Canada Post says it’s lost over $1B so far this year amid strike action
Global News
Canada Post says it lost over $1 billion by the end of September amid the ongoing labour disruptions and negotiations with the CUPW, according to the company.
Canada Post says it has lost over $1 billion in operational expenses so far this year amid ongoing labour disruptions.
The Crown corporation and its largest union of postal workers have been without a collective agreement for nearly two years, and November marks one year since a nationwide strike amid the holiday shopping season.
The numbers were revealed as the company hosted its annual public meeting for 2025 on Tuesday.
Canada Post says it has seen an operational loss of just over $1 billion, according to chief financial officer Rindala El-Hage, who added that the third quarter dating from July through September alone saw a loss of about $535 million.
The second quarter saw a loss of just over $400 million, and at the time, the company said it was the “largest loss” in a single quarter to date.
An operational loss occurs when a company spends more to maintain its core services than it brings in through revenue from those same services.
Business owners, industry leaders and individuals have been seeking alternative carriers, especially for parcels while the labour disruptions have been ongoing. With alternative carriers available, albeit often at a higher cost, Canada Post reports it continues to lose its share of the market.
“Canada Post used to dominate the parcel delivery industry. However, our faster and more efficient competitors not only caught up to us — they have far surpassed us,” said chief operating officer Alexandre Brisson at Canada Post.
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