Canada Post has racked up more than $1 billion in operating losses so far this year, with $535 million of that loss coming in the third quarter alone, the Crown corporation revealed Tuesday.
The organization’s chief financial officer, Rindala El-Hage, revealed the total at Canada Post’s annual public meeting Tuesday.
“The magnitude of Q3 2025 losses from operations is unprecedented,” said El-Hage. “Canada Post is now effectively insolvent. While government funding received in Q3 2025 will help maintain solvency and support operations in the short term, it does not address the long-term structural challenges facing the Corporation.”
Canada Post has been engaged in a 20-month contract dispute with the Canadian Union of Postal Workers, and has repeatedly pointed to its financial condition as justification to dramatically restructure its operations.
In an emailed statement earlier this week, CUPW said it’s still hopeful of reaching an agreement, and has been negotiating with Canada Post through a federally-appointed mediator.
The Crown corporation, said El-Hage, is well on its way to an eighth straight year of operating losses.
Canada Post had an operating loss of $535 million in the third quarter, bringing the total operating loss for 2025 through the end of September to $1.042 billion. That’s up from an $803 million operating loss through the same period in 2024.
In the third quarter, El-Hage said, the Crown corporation received $755 million in funding from the federal government, something she noted won’t be an ongoing option.
“The Government of Canada has made it clear that repeated bailouts through taxpayer funds are not a sustainable solution. Continued reliance on emergency funding is not viable,” El-Hage said.
In late September, federal infrastructure minister Joël Lightbound gave the green night for a broad restructuring of Canada Post’s operations, including the end of home mail delivery, increased use of community mailboxes, and the closure of some rural post offices.
At the time, Lightbound cited the growing losses at Canada Post as a reason for his announcement.
“Canadians can’t be footing an ever-growing bill year after year,” Lightbound said.
Many of the changes approved by Lightbound were recommended in a May report from the Industrial Inquiry Commission headed by veteran mediator William Kaplan.
Just hours after Lightbound’s announcement, CUPW announced an immediate nationwide strike, their second in just under a year. The strike was subsequently downgraded to a series of rotating regional strikes.
Contract negotiations between Canada Post and the Canadian Union of Postal Workers have dragged on for more than 20 months and led to a month-long strike late last year.
More to come …
