Canada Post recorded a pre-tax loss of $748 million in 2023, according to the latest annual report from the Crown corporation, saying the situation has reached a “critical point.”
“While we’ve reported on our declining financial situation for a few years, the current competitive landscape has quickly compounded our challenges, which are reaching a critical point,” the report says. “As the landscape has shifted from mail to parcels, cracks are rapidly appearing in the foundation of the postal system.”
