Profits decline at Canada Post
Posted August 25, 2011 2:41 pm.
This article is more than 5 years old.
There’s a decline in profits at Canada Post Corporation in the second quarter – but it shouldn’t come as any surprise.
During the second quarter, the crown corporation was involved in rotating strike and a lock out before workers were legislated back to work.
Canada Post estimates the labour dispute cost the corporation about $167-million in revenue.
That contributed to a second quarter loss of $10-million, compared to a $51-million profit during the same period a year ago.
In addition, mail and parcel volumes fell in the second quarter, also because of the labour problems.
