Canada Post Reports ‘Unprecedented’ $541M Loss Before Taxes in Third Quarter
Canada Post is facing the deepest financial crisis in its history, reporting losses of $541 million before taxes in the third quarter, marking what the Crown corporation has called an “unprecedented” quarterly deficit. The staggering loss represents the worst quarterly performance in the organization’s history and signals mounting challenges for the national postal service. Historic Financial Deterioration The losses ballooned from $315 million in the same quarter a year earlier, demonstrating a dramatic acceleration in the corporation’s financial decline. Chief financial officer Rindala El-Hage described the corporation as “effectively insolvent”, painting a dire picture of the organization’s fiscal health. For
