PWC News
Tuesday, July 8, 2025
No Result
View All Result
  • Home
  • Business
  • Economy
  • ESG Business
  • Markets
  • Investing
  • Energy
  • Cryptocurrency
  • Market Analysis
  • Home
  • Business
  • Economy
  • ESG Business
  • Markets
  • Investing
  • Energy
  • Cryptocurrency
  • Market Analysis
No Result
View All Result
PWC News
No Result
View All Result

Canada Post reports Q3 loss as strike continues

Home Economy
Share on FacebookShare on Twitter


Breadcrumb Path Hyperlinks

  1. Information

The monetary losses coincide with an escalating work stoppage that’s coming into its second week

Printed Nov 22, 2024  •  Final up to date 19 hours in the past  •  2 minute learn

It can save you this text by registering free of charge right here. Or sign-in when you have an account.

A warming hearth burns in a barrel in entrance of a Canada Publish warehouse in facility in Mississauga, Ont. A nationwide strike by postal employees is ready to enter its second week. Picture by Peter J. Thompson /Monetary Publish

Article content material

Canada Publish reported a earlier than tax lack of $315 million for the third quarter of 2024, widening its deficit by $25 million in comparison with the identical interval final yr. The decline was attributed to ongoing challenges in its parcels section, the place income fell 5.8 per cent as volumes declined by 9.6 per cent. The report cited “a extremely aggressive and demanding parcel supply market” as the important thing issue behind the drop.

Commercial 2

This commercial has not loaded but, however your article continues beneath.

Financial Post

THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLY

Subscribe now to learn the newest information in your metropolis and throughout Canada.

  • Unique articles from Barbara Shecter, Joe O’Connor, Gabriel Friedman, and others.
  • Every day content material from Monetary Occasions, the world’s main international enterprise publication.
  • Limitless on-line entry to learn articles from Monetary Publish, Nationwide Publish and 15 information websites throughout Canada with one account.
  • Nationwide Publish ePaper, an digital duplicate of the print version to view on any machine, share and touch upon.
  • Every day puzzles, together with the New York Occasions Crossword.

SUBSCRIBE TO UNLOCK MORE ARTICLES

Subscribe now to learn the newest information in your metropolis and throughout Canada.

  • Unique articles from Barbara Shecter, Joe O’Connor, Gabriel Friedman and others.
  • Every day content material from Monetary Occasions, the world’s main international enterprise publication.
  • Limitless on-line entry to learn articles from Monetary Publish, Nationwide Publish and 15 information websites throughout Canada with one account.
  • Nationwide Publish ePaper, an digital duplicate of the print version to view on any machine, share and touch upon.
  • Every day puzzles, together with the New York Occasions Crossword.

REGISTER / SIGN IN TO UNLOCK MORE ARTICLES

Create an account or check in to proceed together with your studying expertise.

  • Entry articles from throughout Canada with one account.
  • Share your ideas and be a part of the dialog within the feedback.
  • Get pleasure from further articles per 30 days.
  • Get electronic mail updates out of your favorite authors.

THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK.

Create an account or check in to proceed together with your studying expertise.

  • Entry articles from throughout Canada with one account
  • Share your ideas and be a part of the dialog within the feedback
  • Get pleasure from further articles per 30 days
  • Get electronic mail updates out of your favorite authors

Signal In or Create an Account

or

Article content material

Whereas direct advertising and marketing income rose 9 per cent, buoyed by a 22.1 per cent enhance in quantity, these positive factors have been inadequate to offset declines in parcels and transaction mail. Within the latter, volumes fell by 6.6 per cent — although a regulated postage price enhance helped stabilize income.

The company famous that the earnings outcomes replicate broader structural challenges. “The loss from operations excludes any dividends or revenue from the divestitures,” the report said, highlighting the constraints of short-term monetary measures. This marks Canada Publish’s seventh consecutive annual loss, underscoring its wrestle to adapt to market dynamics and rising operational prices, together with increased worker advantages.

The monetary losses coincide with an escalating strike by Canada Publish employees, who’re demanding increased wages, improved job safety, and higher working circumstances. The strike, which has nearly shut down operations throughout the nation, poses a major threat to the company’s already strained parcels enterprise. The report warns that extended labour motion might additional erode market share within the aggressive e-commerce supply sector, the place clients could flip to personal alternate options.

Posthaste

Posthaste

Breaking enterprise information, incisive views, must-reads and market indicators. Weekdays by 9 a.m.

By signing up you consent to obtain the above e-newsletter from Postmedia Community Inc.

Thanks for signing up!

A welcome electronic mail is on its manner. For those who do not see it, please examine your junk folder.

The subsequent problem of Posthaste will quickly be in your inbox.

We encountered a problem signing you up. Please attempt once more

Article content material

Commercial 3

This commercial has not loaded but, however your article continues beneath.

Article content material

Canada Post earnings chart

Union representatives argue that Canada Publish’s monetary struggles stem from poor administration selections, whereas administration maintains that modernization efforts — together with seven-day parcel supply — are vital to long-term viability. Negotiations stay at an deadlock, regardless of each side proclaiming their dedication to resolving the dispute swiftly to attenuate operational and monetary impacts.

In accordance with the earnings report, progress in e-commerce returns and improved service efficiency in key markets partially mitigated the income and quantity decline, however “digital alternate options” and aggressive pressures stay vital obstacles.

Canada Publish has reported greater than $3 billion in losses since 2018, as Canadians despatched fewer letters whereas opponents wolfed up much more of the parcel market.

Households obtained seven letters per week on common in 2006, however solely two per week final yr, in response to Canada Publish’s newest annual report, which dubbed the pattern “the Nice Mail Decline.”

The final postal work stoppage passed off beginning in late October 2018, when workers carried out rotating strikes lasting 31 days.

Commercial 4

This commercial has not loaded but, however your article continues beneath.

Article content material

Really useful from Editorial

That strike, in addition to one in 2011, ended when the federal authorities handed laws sending workers again to work.

—With information from The Canadian Press

• E-mail: shcampbell@postmedia.com

Bookmark our web site and assist our journalism: Don’t miss the enterprise information that you must know — add financialpost.com to your bookmarks and join our newsletters right here.

Article content material

Share this text in your social community



Source link

Tags: CanadacontinueslossPostreportsstrike
Previous Post

Analysis reveals ‘compelling’ reason these Dems triumphed on Election Day

Next Post

How Much of Your Net Worth Should Each Real Estate Investment Make Up?

Related Posts

Trump sends 35-pct tariff letter to Bangladesh, 2-pct lower | EconomyNext
Economy

Trump sends 35-pct tariff letter to Bangladesh, 2-pct lower | EconomyNext

July 8, 2025
Donald Trump says he will hit Japan and South Korea with 25% tariffs
Economy

Donald Trump says he will hit Japan and South Korea with 25% tariffs

July 7, 2025
Imran Khan vs Asim Munir: How former cricket all-rounder is throwing bouncers at Pakistan Army Chief even from jail
Economy

Imran Khan vs Asim Munir: How former cricket all-rounder is throwing bouncers at Pakistan Army Chief even from jail

July 7, 2025
‘Growth will slow’: Experts warn Trump’s ‘big beautiful’ bill could hit the job market hard
Economy

‘Growth will slow’: Experts warn Trump’s ‘big beautiful’ bill could hit the job market hard

July 6, 2025
Sri Lanka to end senior citizen interest scheme after fiscal bombshell | EconomyNext
Economy

Sri Lanka to end senior citizen interest scheme after fiscal bombshell | EconomyNext

July 6, 2025
Israel to join ceasefire talks despite ‘unacceptable’ response from Hamas
Economy

Israel to join ceasefire talks despite ‘unacceptable’ response from Hamas

July 6, 2025
Next Post
How Much of Your Net Worth Should Each Real Estate Investment Make Up?

How Much of Your Net Worth Should Each Real Estate Investment Make Up?

15 Stocks for Monthly Cash Flow From Dividends – Sure Dividend

15 Stocks for Monthly Cash Flow From Dividends - Sure Dividend

Surprising Housing Markets Where Investors Are Seeing the Most Price Growth

Surprising Housing Markets Where Investors Are Seeing the Most Price Growth

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

RECOMMENDED

Bank Of Baroda Joins Public Sector Peers In Dropping Minimum Balance Charges
Business

Bank Of Baroda Joins Public Sector Peers In Dropping Minimum Balance Charges

by PWC
July 7, 2025
0

Financial institution of Baroda has eliminated expenses for non-maintenance of minimal stability in customary financial savings accounts, becoming a member...

Will Your Next Credit Card Let You Swipe for Bitcoin?

Will Your Next Credit Card Let You Swipe for Bitcoin?

July 3, 2025
Amazon taps into Canadian patriotism

Amazon taps into Canadian patriotism

July 3, 2025
Sentrycs to integrate extra layer into Rafael’s Drone Dome

Sentrycs to integrate extra layer into Rafael’s Drone Dome

July 3, 2025
Agrivoltaics: A social study What Reddit Can Tell Us About Opposition To Solar Farming and What it Takes to Change Minds

Agrivoltaics: A social study What Reddit Can Tell Us About Opposition To Solar Farming and What it Takes to Change Minds

July 4, 2025
1 Stock to Buy, 1 Stock to Sell This Week: Amazon, Tesla | Investing.com

1 Stock to Buy, 1 Stock to Sell This Week: Amazon, Tesla | Investing.com

July 6, 2025
PWC News

Copyright © 2024 PWC.

Your Trusted Source for ESG, Corporate, and Financial Insights

  • About Us
  • Advertise with Us
  • Disclaimer
  • Privacy Policy
  • DMCA
  • Cookie Privacy Policy
  • Terms and Conditions
  • Contact Us

Follow Us

No Result
View All Result
  • Home
  • Business
  • Economy
  • ESG Business
  • Markets
  • Investing
  • Energy
  • Cryptocurrency
  • Market Analysis

Copyright © 2024 PWC.