Overview
- Both sides agreed to suspend rotating strikes and any lockout while they draft tentative agreements that will go to CUPW members for a vote.
- Suspension terms are conditional, and the union says it retains the right to resume strike action if the finalized language deviates from the agreed points.
- The agreements in principle cover CUPW’s urban and rural–suburban units, and no wage or benefit details were released as talks move to contract wording.
- Hours before the deal was announced, Canada Post reported a $541 million Q3 loss and $989 million in year‑to‑date losses, said it will exhaust a $1.03 billion federal loan by Dec. 31, and signaled a need for short‑term financing.
- Parcel revenue fell 40 percent in the quarter with 27 million fewer packages as customers shifted to private couriers, while Ottawa’s reform plan under review would enable more community mailboxes, adjusted delivery standards and selective post‑office closures, alongside workforce reductions largely through attrition.