Canada Post segment posts $270 million loss for 2018

OTTAWA – Canada Post is reporting a loss before tax of $270 million for 2018. Three main non-recurring items factor into the result: the $280 million cost of resolving pay equity and the estimated $135 million net impact of the labour disruption in the fall, partially offset by a $48 million gain after an actuarial update to workers compensation liabilities. Had it not been for these non-recurring factors, Canada Post would have recorded a profit in 2018. The segment’s $270 million loss is a decline of $346 million compared to 2017. Continue reading