Canada Post reports $315 million loss as workers’ strike hits one week

Canada Post says it lost $315 million before tax in the third quarter of this year, a larger deficit than the previous year by $25 million. This is due to fewer letters being sent and increased competition in the parcel-delivery business.

Hamilton’s local union says it doesn’t believe the loss should impact negotiations.

More than 55,000 workers walked off the job a week ago after a year of negotiations. Wages and contract workers remain major sticking points. Today, the Canadian Federation of Independent Business called on the federal government to intervene and legislate employees back to work, but the government has made no moves to do so.

Workers are still delivering government benefit cheques in the meantime, but there are a reported 85,000 passports stuck in the mail system.