Canada Post and losses.

Yes it's true that Canada Post are 3bn in debt.

This is a company that since 2017 (when consistently in profit) has posted consistent revenues increases per year between 2018 and 2022 before the much publisised drop in revenues. Spending too has increased but not on labour which is only up 0.1% in that time.

So where are the losses coming from?

Other operating costs have soared by over 48%

And

"We plan to invest $4 billion over the next five years to build capacity to meet the growing demand for parcel delivery, improve service, modernize our network, renew our fleet and green our operations." -CPC 2021 Annual Report p.12

"We invested $743 million in 2023.. Our more significant investments focused on upgrading our ERP system, replenishing our fleet and exploring clean energy alternatives, upgrading our facilities and equipment, replenishing our street furniture and adding parcel lockers to our network." - CPC 2023 Annual Report p.60

Canada Post deficit 2023: $748 million

Now CUPW are on behalf of the workers pretty concerned by continuing losses. They know the inevitable path of continued losses is mass job cuts which they obviously don't want.

CUPW has offered some solutions

• Postal Banking
• Elderly check in service
• Hi Speed rural internet network role out
• Low cost food delivery
• PO EV charging stations
• PO community hubs
• Tourism services etc

Alternatively the mainstream media solution is nothing can be done. Package it up and privatise it like the UK and Germany.

• If you want a reliable service then you only need to look at the UK to see that privatization has not provided that. In fact it's less reliable and caught in scandal and has since been resold to a Czech billionaire.

Name a public entity that has went private where costs would go down and service improves? I'll wait because it doesn't happen.

There's a lot of operational issues at CP. The workers asking for a better contract isn't one of them.