With Canada Post on track to lose $1.5 billion in 2025 and contract discussions between the union and the corporation stalled, the federal government is embarking on a modernization plan it says will allow Canada Post to stabilize its finances and ensure the survival of the corporation.

Chief among those changes is allowing Canada Post to end home delivery and convert the remaining four million addresses that still receive it to community mailboxes.

Three-quarters of Canadians already get their mail from community mailboxes, a government official said in a background briefing Thursday, and moving the remaining Canadians to the communal system will save the corporation $400 million annually, a government statement said.

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