The news is concerning for New Zealand Post, as profits have been halved due
to people sending less letters than ever before.
It is forecasted the total amount of letters sent will be halved within the
next four years.
Parcels now bring in most of the revenue.
CEO David Walsh says it's a bigger deficit than they would have liked, but a
lot of it is out of their control.
He says organisations that send a lot of mail make their own choices about
how they want to communicate with customers.