Canada Post announces $66 million loss in first quarter

Rebel Media: Taxpayer funded Canada Post has just announced a $66 million loss in the first fiscal quarter of the year. Massive increases in home shipping during the COVID-19 lockdown were not enough to buffer the regular losses at Canada Post.

The effects of the Chinese Virus on business across western countries only began to impact companies around the end of the fiscal quarter. While Canada navigated the crisis, at Canada Post it was largely business-as-usual, having been designated as an essential business.

According to Business Insider, the higher operating costs throughout the first quarter were a result of “higher labour and employee benefits.”

Many Canadians are scratching their heads at the Crown corporation, wondering how the publicly backed money pit could have lost money after parcel mail increased by 4 million parcels in just the first three months of the year. read more

5 Comments on Canada Post announces $66 million loss in first quarter

  1. The Canuck Postmen hid all the posts in their garaaages and sat on their chesterfields all day drinking Molson beer, instead of delivering the posts, eh!

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  2. Ordered a knife on line delivered by Crapistan post – 4 days

    UPS or FED would have been 2 days for $2 more.

    The real shit show is that Cannabis use is way up during the Plandemic, and the post office ships more of it than anyone else, and they still can not make money. If you want to get high, you have to plan way in advance.

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  3. My buddy is a postie. He brags that he can do his whole route in 4 hours and get paid for the whole day. The sad thing is, is that after 25 plus years of this, he became a drug and alcohol abuser because of all the fee time.

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