On Friday, Canada Post reported a loss before tax of $315 million in the third quarter of 2024, amid a decline in parcel revenue and volumes.
Canada Post’s Q3 revenue from parcels dipped by 5.8 per cent and volumes declined by six million pieces— or 9.6 per cent— compared with the same time last year.
As Global’s Kyle Benning reports, Canada Post is anticipating another “significant loss” this year, which would be the seventh successive annual loss for the company.
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Canada Post has been a huge burden. They are like parasites, we pay their salaries & they don't work(((((((((((((((((( Canada government should shut down this money hole((((((((((((((((((((((((
How can a company lose more than 3 million dollars a day, yet the CEO, vice presidents, directors, etc get to keep their jobs AND earn bonuses? Most of their losses are actually investments (new sorting plants, electric vehicles) that are not in use yet. Look it up. Their spending and investing is where the money has gone and they count it as a loss instead of an investment
File for bankruptcy, shut down, bust the union, start over
I see a lot of Canada Post layoffs as businesses using Canada Post permanently go to other couriers & freight companies. People & companies will no longer put up with poor tactics from unions when Canada Post is losing money.
Sick of putting my tax money into crap , gov't administered projects like Canada Post ,CBC.Let the free market decide.$B of taxpayer money to prop up dead ventures so a few bureaucrats can boast and give themselves raises.Furthermore, most of the employees are unskilled labour backed by loud socialist unions.
Canada Post, should mail themselves a clue as to how stupid they look to this entire Country right now.
So let me understand this better, the Crown corporation is bleeding money which is a draw on taxpayers, and union is on strike for more money and benefits, to be a larger draw on taxpayers. Thanks Union, we will pay more taxes for your more welfare.
I'm switching to electronic mail as much as possible. Tired if dealing with this every few years.
Its always losing $ it's a failed business…email letters save on trees…that was the way they were thinking in the 80's and 90's…now we do not need this service at all with package delivery companies filling the void for parcels and creating a healthy competition grid across our country. This company is sucking dollars out of our government we need change and a solution fast. Close the doors for good and promote a electronic mail boom.
This may kill Canada Post! So you’ll have no job to go back to!! Right?
So closing it down would save the taxpayer over $1 billion/year?
If government workers aren't happy with their jobs, they should find another one – and let someone who is take the job.
But they are UNIONS and they have PROTECTED JOBS.
Those that do not wish to STRIKE are Called "SCABS" Great STUFF by our CIVIL SERVANTS.
This is BULLYING.
I thought it was Illegal to withhold someone's mail – However, that's not the case with the People ENTRUSTED to Deliver our Mail.
I used to deliver Fliers for PENNIES – through Canada Post, and I'm SURE People still do.
When it's all said and done, and people are using different delivery methods, will there still be the need for as many postal workers, and if not will they be let go?
Yet Amazon is dropping my stuff off for free on Sunday! Service Canad should use another service for now given the cost of passports!
The operation for courier as Canada Post ( government delivery organization ), basically involve 3 parts , the superior is Civic/customer , then the lower parties,Company and Worker union .
If the strike as 2018 , rotation strike , the civic / customer affection were small , so we didn’t care the strike .
But the strike in this time , these two lower parties compete for own
gain profit to hurt and sacrifice the superior part, civic/customer .
So we must fire the Canada Post Company and worker union .
All customers and civics who have parcels are processing in the facility of Canada post make “class action” to lawsuit Canada Post for missing delivery promise
So selfish.. this affects a lot of people.
We need an investigation into Canada Post's claims of a 3 billion dollar loss since 2018. Why concentrate on vague statements when more pertinent questions need to be asked? Why use 2018 as the year to start your losses from? Were there profits prior to that year? Was there a new CEO changeover in that year? Didn't Doug Ettinger take the reigns at or near that time? How long can a CEO be allowed to run a business into the ground and what accountability does he have to the government of Canada? What oversight is given to this crown corporation? What has Canada Post been spending their income on during these supposed loss years? How many new supervisors and executives have been hired since that time and what is the ratio of supervisor to employees? How about examining executive salaries, new building constructs, equipment purchases, fleet trucks, other assets, and how are these expenses being justified and or manipulated through accounting "techniques" for the appearance of an alleged failing business only in contract renewal years? Is Canada Post not also a service supplied by Government to all Canadians as opposed to companies like Amazon who would never venture into or serve Canadians in areas of Canada that are not profitable? Does it need to be profitable when other government departments or services such as Parks Canada or a fire department does not? Does the union really take in 70 million dollars per year in union dues and what do they spend their income on? And what about trips that are financed by the union’s International Postal Fund; a chest topped up each year with a $200,000 payment from Canada Post – and first secured as part of a 2000 collective agreement? Is this capable of buying the favor of decision makers acting on behalf of its members? What incentives do both parties have to complete a contract negotiation in a reasonable time? This recent negotiation began in Nov of 2023? Should a negotiating team that cannot negotiate or come to conclusions be allowed to continue without scrutiny? Maybe there should be a time limit before both sides are dissolved and a new team put together. A lot of one-sided reporting going on. Claiming Canada Post is no longer relevant and not needed begs to be debated. What would happen to small businesses and their costs along with smaller and harder to reach communities when no other company would find it profitable enough to provide these services to them? Why do news reports not mention the service Canada Post provides to all Canadians? Lastly, wouldn't it be desirable (and profitable) to private investors and foreign interests to falter Canada Post through purposeful executive placements and poor business decisions (using CEOs and other executives) whos only interest it is but to use Canadian taxpayers dollars to continue to add more assets to this massive enterprise while making these unrealistic decisions to the point of bankruptcy then steal it from centuries of hard earned Canadian sweat and equity when they swoop in and purchase it for pennies on the dollar? Wake up Canadians and protect this valuable national asset.
$$$$$$$$$$$$$$$IF CANADA CAN AFFORD TO GIVE OTHER COUNTRYS BILLIONS OF DOLLARS FOR FREE ….SURELY THE GOVERNMENT CAN LOOK AFTER ITS OWN CANADA POST $$$$$$$$$$$$$$$$$$$€
🌾🦉🦬✝️ On the bright side, less deliveries mean less entitlement & nature saved.
I think it is strange that CP has a loss of 300 million a quarter, in a 7% unemployment time, and the employees say "I want 24% raise". They can be replaced with a few extra Purolator trucks. "Read the room Canada Post employees, read the room".
Canada is not a third world country. The fact that they did this during Christmas season is a shame and disgrace to themselves. They are a threat to national peace and security and must be shut down and replaced ASAP….. deals can be negotiated without disrupting the flow of society.
The CEO makes 500 million a year paycheque.
The top 7 executives underneath him get between 200 and 300k.
Holding Canadians hostage at Xmas time for the last 70 years ..that's great it's a losing business actually don't need it ..shut it down retire with dignity..
This is not good. Workers are on strike for a company that is losing a boat load of money and the paying millions of tax payers dollars for bonuses.
Fire them all and hire people who are in desperate need of a job. Greedy people…
Sellit all to ups or purolator or canpar and get it off our taxes.
Canada government… fix Canada before The people fix it for you…
two thirds (2/3) of Canada Post employees make "$30" an hour with full medical/dental, sick days, and paid holidays. Management lost $4 billion from 2018 – 2023 while earning millions in salaries. GET BACK TO WORK OVERPAID FLYER DELIVERY PERSONNEL!!
No one supports CUPW. They hold Canadians hostage.
Economic Sabotage ..you should be abolished !..
People are already being laid off but it’s quiet