US EditionCanada Post Reports $841-Million Loss Before Tax For 2024
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Canada Post Bleeds Seventh Straight Red Year: Pre-Tax Deficit Widens to $841M
Canada Post posted a $841 million loss before tax for 2024, 12.4% worse than 2023’s $748 million shortfall and the seventh consecutive annual loss for the corporation. This follows total revenue shrinking by $800 million, or 12.2%, driving an operating loss of almost $1.3 billion after stripping out one-off gains from the sales of SCI Group and Innovapost. The Crown corporation […]
Canada Post reports $841m losses as strike negotiations continue
Canada Post saw its seventh consecutive annual loss in 2024, with an operating loss of nearly C$1.3bn (US$940m) and revenues down C$841m (US$608m) before tax. According to the post, revenues were down across all sectors: parcel volumes fell by 56 million pieces in 2024, resulting in a C$683m (US$494m) revenue loss, largely attributed to the ongoing labor dispute between Canada Post and the Canadian Union of Postal Workers (CUPW) in the fourth qu…
Canada Post Reports $841-Million Loss Before Tax For 2024
Losses worsened by strike impact as the postal service requires urgent changes to address its financial sustainability and serve the needs of a changing Canada Canada Post recorded a loss before tax of $841 million in 2024 – the seventh consecutive annual loss for the Corporation. The significant challenges Canada Post has confronted in recent years continued to mount in 2024 and were escalated by a 32-day national strike. Key highlights from 2…
Canada Post submitted its final offers to the Union des travailleurs et travailleurs des postes (STTP) on May 28, which included improvements to the overall offers proposed on May 21. These include a signing bonus of $500 or $1,000, depending on their role (FFRS and urban unit) and the triggering of payments for the cost of living allowance at a lower threshold of inflation (7.16% instead of 13.59 per cent), which would also continue to be paid …
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