Canada Post is heading toward a record amount of red ink in 2025, racking up $1 billion in operating losses so far this year, with $535 million of that coming in the third quarter alone, the Crown corporation reported Tuesday.

The organization’s chief financial officer, Rindala El-Hage, revealed the grim tally at Canada Post’s annual public meeting Tuesday, calling the losses “unprecedented.”

“Canada Post is now effectively insolvent. While government funding received in Q3 2025 will help maintain solvency and support operations in the short term, it does not address the long-term structural challenges facing the Corporation,” said El-Hage.

CEO Doug Ettinger also said the company anticipates losing 30,000 employees to retirement or voluntary departure within 10 years.

Canada Post has

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