Canada Post announced its action plan on Wednesday which aims to return the company to financial sustainability by 2019.

“Canada Post has a mandate to fund its operations with revenues from the sale of its products and services, rather than become a burden on taxpayers,” the company said in a statement. “With the increasing use of digital communication and the historic decline of lettermail volumes, Canada Post has begun to post significant financial losses.”

In its last quarter alone the corporation reported a loss of $129 million.

A think-tank commissioned by Canada Post earlier this year warned that the postal service was on track to lose $1 billion annually by the end of this decade.

The Conference Board of Canada study estimated savings of $576 million a year by eliminating door-to-door delivery to urban homes.

Those areas – which account for about one-third of Canadian households — will transition to community mail boxes. Implementation of the changes will begin in the second half of 2014.

The first neighbourhoods that will stop receiving door-to-door mail delivery have yet to be announced.