National

Canada Post at 'critical juncture,' financial situation unsustainable: board chair

Darpan News Desk The Canadian Press, 28 Aug, 2024 11:51 AM

The chair of Canada Post’s board says the organization’s financial situation is unsustainable.

André Hudon says Canada Post is at a “critical juncture” and significant change is urgently needed to preserve its delivery network.

Hudon said the surge in online shopping during the COVID-19 pandemic reshaped the parcel delivery market, and Canada Post is competing with “high-tech, low-cost operators who are rapidly and relentlessly evolving.”

Hudon made the comments Wednesday at Canada Post’s annual general meeting.

In August, Canada Post reported second-quarter profits of $46 million before tax as a one-time sale of subsidiaries helped offset an operational loss of $269 million.

That's compared with a loss of $76 million before tax in the first quarter of the year.

Prev Next

MORE National ARTICLES

BC needs to be winter ready

The summit never happened and now Linda Annis and Daniel Fontaine want to know whether the province and Metro Vancouver have any solutions. They say if a summit had been held, a regional plan might be in place this year to avoid future problems.

BC needs to be winter ready

Auditor general raises concerns about B.C.’s bookkeeping for 16th time

Michael Pickup says if B.C's financial statements followed Canadian public sector accounting standards there would be about another $7 billion in the revenue column, and liabilities would have dropped by the same amount. This is the 16th time Pickup's office has "qualified" its audit report, meaning it couldn't say the financial statements were fairly presented.

Auditor general raises concerns about B.C.’s bookkeeping for 16th time

Charges laid in shooting deaths of two Edmonton officers while on duty: police

Charges have been laid in the deaths of two Edmonton police officers who were shot while responding to a call in March. Const. Brett Ryan and Const. Travis Jordan took a call about a family dispute at an apartment building when they were gunned down by a 16-year-old boy.

Charges laid in shooting deaths of two Edmonton officers while on duty: police

CP investigation into allegations of toxic workplace at CSIS

The investigation, by reporter Darryl Greer, includes interviews with two covert officers who say they were sexually assaulted by a senior colleague while on duty, and two other officers who support their claims. The story provides a rare look inside Canada's spy agency.

CP investigation into allegations of toxic workplace at CSIS

El Niño brings a warm start to winter, but that could change: Weather Network

The Weather Network predicts El Niño conditions will lead to above-average temperatures and lower-than-normal precipitation levels in much of the country, particularly in Western and Central Canada. While that trend is expected to hold throughout the winter in British Columbia and the Prairie provinces, the network said areas further east may see more variable conditions as the season progresses.

El Niño brings a warm start to winter, but that could change: Weather Network

Respondents to Bank of Canada questionnaire largely oppose creating a digital loonie

The Bank of Canada’s public consultations on the creation of a digital Canadian dollar reveal most respondents are opposed to it. The central bank released its findings Wednesday that show more than 80 per cent of respondents strongly opposed the Bank of Canada researching and building the capability to issue a digital dollar.