Canada Post's Record Loss: Strikes & Service Cuts

Canada Post faces record losses due to ongoing strikes, with a pre-tax loss of $384.5 million in Q3. This follows a 40% drop in parcel revenue and seven consecutive years of losses. The postal service and its union have been in negotiations for two years, with workers using strikes and overtime refusals. Canada Post expects to lose all its government loan by the end of 2022 and needs more short-term funding. The company plans to implement changes like flexible mail delivery and community mailboxes, but the union believes resolving labor disputes would be more beneficial.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.