Commentary
Thirty years ago, the delivery of letters to homes was an essential service. Bills, cheques, and correspondence from loved ones all arrived by mail. Any interruptions in service could be devastating.
Because of the importance of mail delivery and the near-monopoly Canada Post held on it, the Canadian Union of Postal Workers became powerful. Postal workers enjoyed job security and generous compensation for relatively unskilled work. Now, though, things have changed, and a threatened strike by postal workers may backfire and provide the impetus to reform and scale down Canada Post.
Canada Post has lost $3 billion since 2018, and the losses are accelerating. In 2022, it lost $548 million. In 2023 it lost $748 million. The trend of losses can’t continue. As a Crown corporation, taxpayers will eventually be on the hook for the bill if losses keep mounting….