Australia Post looks to stem the losses

Australia Post managing director Ahmed Fahour said the changes meant the business represents a shift from “a letters business to a parcel business”.

Australians are set to be forced to pay more for ‘regular’ mail delivery as Australia Post pushes forward with its proposed shake-up of its dwindling letters service.

Australia Post‘s parcel delivery service continues to grow thanks to the explosion in online shopping, helping to post an overall profit of $116 million.

Mr Fahour said the financial bleeding from the letter delivery service was "overwhelming" other parts of the business.

Managing director Ahmed Fahour outlined the proposed changes on the back of the business announcing today its mail division lost a record $328. 4 million in 2013-14.

As more customers move from receiving traditional mail to online, Mr Fahour said the letter delivery service was essential if the company was to remain sustainable.

Read more here: SMH


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