Overview
- CEO Doug Ettinger said the company will rely on attrition to downsize from roughly 62,000 employees, targeting 16,000 departures by 2030 and another 14,000 by 2035.
- Chief financial officer Rindala El‑Hage described Canada Post as effectively insolvent, citing losses of more than $1 billion in the first nine months of 2025, $239 million worse than a year earlier.
- The corporation posted an unprecedented $541 million pre‑tax loss in the third quarter and is tracking for its steepest annual loss this year.
- To maintain operations, Canada Post drew $755 million from a $1.034‑billion federal repayable loan in the third quarter plus a further $200 million outside that period.
- Leadership blamed falling letter volumes, fierce parcel competition and disruption from an ongoing labour dispute, and declined to say whether layoffs beyond attrition will be required.