Canada Post getting another $673M in federal funds to stay afloat - BERITAJA

The federal government is handing hundreds of millions of dollars to Canada Post to support the money-bleeding message work afloat for the existent fiscal year.

A furniture bid gives the beleaguered Crown corp up to $673 cardinal truthful it could “meet its operating and income” demands done adjacent March.

Last twelvemonth Ottawa authorized a $1.03-billion rate injection for Canada Post, followed by different cardinal dollars successful other repayable backing erstwhile the first magnitude proved excessively small.

Carleton University business professor Ian Lee says the postal work will apt request hundreds of millions much to make it done the year, fixed its unprecedented $1.57-billion nonaccomplishment earlier taxation successful 2025.

As workers ballot connected a statement aft years of disputes and declining missive demand, Canada Post says it must modernize done reforms that see organization mailboxes and imaginable station agency closures.

Canada Post and the national person sparred complete wages and structural changes to the Crown corp for much than 2 years, pinch workers taking to the picket statement repeatedly.