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How Canada Post lost $3B in six years | About That
Posted
May 23, 2024
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May 23, 2024
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10:16Now PlayingCanada Post has a monopoly on Canadian letter delivery. But financial reports show the Crown corporation lost $748 million in 2023 alone and is expected to run out of money by early 2025. Andrew Chang explains how - even when parcel delivery is at an all-time high - the company can’t catch a break, and what it means for your mail.
CORRECTION (Nov. 12, 2024): An earlier version of this description said Canada Post lost $748 million in 2024. That number is the total losses before tax for 2023. According to Canada Post's most recent financial reports, it has so far lost $490 million in the first two quarters of 2024.
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