Overview
- The Crown corporation disclosed Friday that it recorded a $205-million loss before tax for the first quarter of 2026, driven by falling mail and parcel business compared with 2025.
- Revenue fell by $181 million year-over-year, and parcel volumes dropped about 17 percent — roughly seven million fewer parcels — which reduced parcel revenue by $79 million.
- Canada Post said labour uncertainty from ongoing bargaining with the Canadian Union of Postal Workers harmed customer confidence and helped drive business to competitors.
- Ottawa approved up to $673 million in short-term funding to keep the service running while Canada Post begins a multi-year transformation that includes shifting some addresses to community mailboxes and closing select post offices.
- About 55,000 CUPW members finished ratification and strike-mandate voting after April 20, with union results expected next week and outcomes that could affect service stability and the pace of the transformation.