Canada Post Quarterly Loss Tops $300M as Strike Hits Second Week—and Rivals Step In

Canada Post Quarterly Loss Tops $300M as Strike Hits Second Week—and Rivals Step In
Canada Post signage is seen during a national strike action in Ottawa, on Nov. 18, 2024. The Canadian Press/Spencer Colby
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Canada Post saw hundreds of millions of dollars drain out of its coffers last quarter, due largely to its dwindling share of the parcels market—while an ongoing strike continues to batter its bottom line.

The Crown corporation said Friday it lost $315 million before tax in the third quarter, larger than its $290 million loss a year earlier.