Canada Post Reports $315 Million Loss as Strike Disrupts Operations

The Crown corporation faces financial challenges from declining parcel volumes and a nationwide postal worker strike now in its second week.

Canada Post recorded a $315 million pre-tax loss in Q3 2024, widening its deficit from $290 million in the same quarter last year.
Declining parcel volumes, down nearly 10% year-over-year, contributed significantly to the financial shortfall, driven by competition in the e-commerce delivery market.
The ongoing strike by over 55,000 postal workers, which began on November 15, has halted most operations, excluding essential services like government benefit cheques.
Negotiations between Canada Post and the union have stalled, with disputes over wages, job security, working conditions, and benefits remaining unresolved.
This marks the seventh consecutive year of losses for Canada Post, as it struggles to adapt to market changes and labor disputes.