08:37:54 EDT Tue 01 Jul 2025
Enter Symbol
or Name
USA
CA



Amazon.com CDRs (CAD Hedged)
Symbol AMZN
Shares Issued 27,050,000
Close 2025-01-28 C$ 28.30
Market Cap C$ 765,515,000
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FP says Canada Post should learn from Amazon's example

2025-01-29 08:54 ET - In the News

The Financial Post reports in its Wednesday edition that last week, Amazon decided to shut down its Quebec distribution network and lay off more than 1,900 workers, including 250 newly unionized employees. The Post's Terence Corcoran writes that Canada Post and its major rivals, including Amazon, are in the same business, the delivery of small packages, with Canada Post unable to compete against Amazon and other players due in part to the post office's mail delivery mandate but also to its union-dominated work force. The federal government responded by saying it would rethink any support it provides to Amazon. Amazon's decision seems competitively sound, in part because there are indeed smaller and local Canadian parcel delivery companies ready to expand in Quebec. One of those companies is Trexity. In an interview from Ottawa, Trexity chief executive officer Alok Ahuja said the Amazon pullback in Quebec will open the door for his ambitious plans to get into Montreal. Ottawa may not be ready for real competition, but the way forward for Canada Post involves removing anti-competitive policies and legal structures and liberating new entrants, whether they are tech giants or upstarts such as Trexity, into the market.

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