Canada Post and its employees have merely reached a "peace treaty" ahead of the busy holiday shopping season, a business lobby group warned Wednesday, predicting little but long-term pain for the Crown corporation. Canada Post had sought changes to the plan for new employees as it deals with an estimated $8-billion solvency deficit, insisting new hires be covered by a defined-contribution plan rather than the current defined-benefit plan. Under reviewThe federal government launched a review of Canada Post operations in May after the planned cancellation of daily home delivery became a hot button issue during last year's election campaign. "We can now turn towards the hearings that are going to be taking place in a few weeks and we'll be articulating our vision for the future of Canada Post," Palecek said. Canada Post has dismissed the idea as too risky.

Source: CBC News August 31, 2016 20:37 UTC