{"id":14087,"date":"2025-01-24T20:16:41","date_gmt":"2025-01-24T20:16:41","guid":{"rendered":"http:\/\/torontotribune.ca\/index.php\/2025\/01\/24\/canada-post-gets-financial-lifeline-from-ottawa-up-to-1b-amid-struggles-national\/"},"modified":"2025-01-24T20:16:41","modified_gmt":"2025-01-24T20:16:41","slug":"canada-post-gets-financial-lifeline-from-ottawa-up-to-1b-amid-struggles-national","status":"publish","type":"post","link":"https:\/\/torontotribune.ca\/index.php\/2025\/01\/24\/canada-post-gets-financial-lifeline-from-ottawa-up-to-1b-amid-struggles-national\/","title":{"rendered":"Canada Post gets financial lifeline from Ottawa up to $1B amid struggles &#8211; National"},"content":{"rendered":"<p> <br \/>\n<\/p>\n<div data-article-socialshare=\"true\">\n<div id=\"article-fontSizer\" class=\"c-fontSizer\">\n<p>\n\t\t<button class=\"c-fontSizer__button c-fontSizer__button--decrease c-button c-button--details c-button--mini\" data-trackable=\"true\" data-trackaction=\"Font Sizer Decrease Font\" data-tooltip-title=\"Decrease text size\"><br \/>\n\t\t\t<span class=\"sr-only\">Descrease article font size<\/span><br \/>\n\t\t\t\t<svg class=\"c-icon  c-fontSizer__icon\" focusable=\"false\">\n\t\t<use xlink:href=\"https:\/\/globalnews.ca\/wp-content\/themes\/shaw-globalnews\/assets\/dist\/icons\/out\/symbol\/svg\/sprite.symbol.svg?v=cv3j60zbx#font-decrease\"\/>\n\t<\/svg><br \/>\n\t\t\t<\/button>\n\t<\/p>\n<p>\n\t\t<button class=\"c-fontSizer__button c-fontSizer__button--increase c-button c-button--details c-button--mini\" data-trackable=\"true\" data-trackaction=\"Font Sizer Increase Font\" data-tooltip-title=\"Increase text size\"><br \/>\n\t\t\t<span class=\"sr-only\">Increase article font size<\/span><br \/>\n\t\t\t\t<svg class=\"c-icon  c-fontSizer__icon\" focusable=\"false\">\n\t\t<use xlink:href=\"https:\/\/globalnews.ca\/wp-content\/themes\/shaw-globalnews\/assets\/dist\/icons\/out\/symbol\/svg\/sprite.symbol.svg?v=cv3j60zbx#font-increase\"\/>\n\t<\/svg><br \/>\n\t\t\t<\/button>\n\t<\/p>\n<\/div>\n<\/div>\n<div id=\"\">\n<p><a href=\"https:\/\/globalnews.ca\/tag\/canada-post\/\">Canada Post<\/a> says the federal government is providing it with a lifeline to help the Crown corporation continue operating as it \u201cdeals with significant financial challenges.\u201d<\/p>\n<p><\/p>\n<p>The corporation said Friday that Ottawa plans to make repayable funding of up to $1.034 billion available for its 2025-26 fiscal year.<\/p>\n<p>Canada Post\u2019s incoming funding comes just two months after it reported <a href=\"https:\/\/globalnews.ca\/news\/10883380\/canada-post-strike-one-week-mark\/\" target=\"_blank\" rel=\"noopener\">steep financial losses in its third quarter<\/a>, with the national postal service reporting a loss before tax of $315 million amid a decline in parcel revenue and volumes.<\/p>\n<p>That quarter\u2019s revenue from parcels had dipped 5.8 per cent and volumes declined by six million pieces, or 9.6 per cent compared to the previous year.<\/p>\n<div class=\"c-inlineSignup\" data-newsletter-inline=\"\">\n<div class=\"c-inlineSignup__image\">\n\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"170\" height=\"225\" loading=\"lazy\" src=\"https:\/\/globalnews.ca\/wp-content\/themes\/shaw-globalnews\/images\/skyline\/national.jpg\" alt=\"Get the day's top news, political, economic, and current affairs headlines, delivered to your inbox once a day.\"\/>\n\t\t\t\t<\/div>\n<div class=\"c-inlineSignup__content\">\n<h3>Get daily National news<\/h3>\n<p>Get the day&#8217;s top news, political, economic, and current affairs headlines, delivered to your inbox once a day.<\/p>\n<\/p><\/div>\n<\/p><\/div>\n<p>According to the news release announcing the funding, the corporation said it would help operations continue but would not help in its structural issues.<\/p>\n<div class=\"c-ad c-ad--bigbox l-article__ad\">\n<p>Story continues below advertisement<\/p>\n<\/p><\/div>\n<p>\u201cIt will, however, provide a temporary financial bridge while Canada Post and the government work together on a plan to secure the long-term viability of a service that millions of Canadians consider essential,\u201d the release reads.<\/p>\n<p>The financing also comes a month after a strike by Canada Post workers came to an end when the Canada Industrial Relations Board (CIRB) ordered workers back on the job <a href=\"https:\/\/globalnews.ca\/news\/10916410\/canada-post-strike-back-to-work-cirbrequest\/\" target=\"_blank\" rel=\"noopener\">after a request by Labour Minister Steven MacKinnon<\/a>.<\/p>\n<section id=\"content-dynamic-trending-stories\" class=\"l-inlineStories l-inlineStories--tile u-hide-tablet-landscape\" aria-label=\"Dynamic trending stories section\">\n<p>\n\t\t<span class=\"l-inlineStories__title c-heading c-heading--strikethrough\">Trending Now<\/span>\n\t<\/p>\n<ul class=\"l-inlineStories__posts c-posts c-posts--inline \">\n<li class=\"c-posts__item\">\n\t\t\t<a href=\"https:\/\/globalnews.ca\/news\/10974508\/what-is-a-tariff-donald-trump\/\" class=\"c-posts__inner\"><\/p>\n<div class=\"c-posts__media \">\n\t\t\t\t\t\t<img loading=\"lazy\" class=\"c-posts__thumbnail\" data-src=\"https:\/\/globalnews.ca\/wp-content\/uploads\/2025\/01\/donald-trump-2.jpg?quality=85&amp;strip=all&amp;w=336&amp;h=224&amp;crop=1\" loading=\"lazy\" width=\"336\" height=\"224\" alt=\"\"\/>\n\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n<div class=\"c-posts__details\">\n<p>\n\t\t\t\t<span class=\"c-posts__headlineText\" title=\"What is a tariff? A guide to the hit on Canada if Trump pulls the trigger\" data-title=\"\">What is a tariff? A guide to the hit on Canada if Trump pulls the trigger<\/span>\n\t<\/p>\n<\/p><\/div>\n<p>\t\t\t<\/a>\n\t\t<\/li>\n<li class=\"c-posts__item\">\n\t\t\t<a href=\"https:\/\/globalnews.ca\/news\/10973971\/donald-trump-canada-tariffs-oil-gas-davos\/\" class=\"c-posts__inner\"><\/p>\n<div class=\"c-posts__media \">\n\t\t\t\t\t\t<img loading=\"lazy\" class=\"c-posts__thumbnail\" data-src=\"https:\/\/globalnews.ca\/wp-content\/uploads\/2025\/01\/CP173873032-e1737651597275.jpg?quality=85&amp;strip=all&amp;w=336&amp;h=224&amp;crop=1\" loading=\"lazy\" width=\"336\" height=\"224\" alt=\"\"\/>\n\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n<div class=\"c-posts__details\">\n<p>\n\t\t\t\t<span class=\"c-posts__headlineText\" title=\"Trump says \u2018we don\u2019t need\u2019 Canada\u2019s oil and gas\" data-title=\"\">Trump says \u2018we don\u2019t need\u2019 Canada\u2019s oil and gas<\/span>\n\t<\/p>\n<\/p><\/div>\n<p>\t\t\t<\/a>\n\t\t<\/li>\n<\/ul>\n<\/section>\n<p>Since 2018, the corporation has recorded annual losses that it says are fuelled by the changes in postal and parcel delivery sectors, labour costs and \u201clegacy regulatory measures\u201d that it claims prevents it from evolving and competing with other companies.<\/p>\n<p>It says it has had to tap into cash reserves in recent years to address the rising costs.<\/p>\n<p>It added its 2023 annual report also showed that without the financing measure announced Friday, the company would completely deplete its cash reserves by the second quarter of 2025.<\/p>\n<div class=\"c-tabs\">\n<p>\n\t\t\t<button role=\"tab\" class=\"c-tabs__tab c-tabs__tab--active\" type=\"button\">More on Canada<\/button><br \/>\n\t\t\t<button role=\"tab\" class=\"c-tabs__tab\" type=\"button\">More videos<\/button>\n\t\t<\/p>\n<\/p><\/div>\n<\/p><\/div>\n<div>\n<p>\n\t\t&amp;copy 2025 Global News, a division of Corus Entertainment Inc.\t<\/p>\n<\/div>\n<p><script defer src=\"https:\/\/connect.facebook.net\/en_US\/sdk.js#xfbml=1&#038;appId=318812448281278&#038;version=v3.3\"><\/script><br \/>\n<br \/><br \/>\n<br \/><a href=\"https:\/\/globalnews.ca\/news\/10976295\/canada-post-repayable-funding-financial-challenges\/\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Descrease article font size Increase article font size Canada Post says the federal government is providing it with a lifeline to help the Crown corporation continue operating as it \u201cdeals with significant financial challenges.\u201d The corporation said Friday that Ottawa plans to make repayable funding of up to $1.034 billion available for its 2025-26 fiscal<\/p>\n","protected":false},"author":4,"featured_media":11549,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-14087","post","type-post","status-publish","format-standard","has-post-thumbnail","category-politics"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.8 - 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