Canada Post continues to hemorrhage money, losing $407 million in the second quarter of 2025, the beleaguered Crown corporation announced Tuesday.

It's the largest quarterly loss as parcel revenue plummets, the postal service said.

Canada Post attributed the before-tax loss to uncertainty stemming from lengthy contract negotiations between it and its union.

According to the latest figures from the corporation, parcel revenue is down by $288 million as Canada Post delivered 25 million fewer packages in the second quarter than it did a year earlier.

Since the start of 2025, parcel revenue is down nearly half a billion dollars.

"Parcels results declined sharply as the strike activity and labour uncertainty drove customers to other carriers for their deliveries," said a statement from the

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