Reported 2 days ago
Canada Post has reported a staggering $611 million pre-tax loss in 2024 and has made a 'best and final' labor offer to the Canadian Union of Postal Workers, emphasizing the need for operational reforms to improve its financial stability. The company has faced ongoing criticism from the union regarding its counteroffer, which could lead to further labor actions amid decreasing mail volumes and increased competition from private carriers. With losses totaling $2.7 billion since 2018, Canada Post is under pressure to modernize its delivery model to adapt to changing communication and e-commerce trends.
Source: YAHOO