Canada Post is reporting a loss of more than $1.5 billion before tax last year, a record-breaking figure it attributes to labour uncertainty and challenges in modernization that hindered the mail service’s ability to be competitive.
The $1.57 billion loss was $728 million greater than the $841 million the national mail carrier lost before tax in 2024, representing an 86.7 percent annual increase, the Crown corporation said in a press release accompanying its annual report.
The financial loss represents its “largest loss before tax on record,” Canada Post said.
The Crown corporation has documented losses exceeding $5 billion since 2018 as it grapples with a substantial reduction in letter mail and heightened competition in the package delivery sector….