It was found that Canada Post suffered a large loss in the third quarter last quarter due to intensifying competition in the courier industry.<\/p>\n
\u201cCanada Post\u2019s loss last quarter amounted to $290 million,\u201d the Post Office said in its third quarter accounting report.<\/p>\n
During the same period last year, the Post Office’s loss was $227 million, but this year it increased by $63 million. The Post Office attributed this increase in quarterly losses to increased competition in the courier market, which resulted in decreased delivery volumes and profits, while increased marketing costs.<\/p>\n
In addition, operating expenses, including employee wages, increased by $26 million in the third quarter compared to the same period last year, leading to an increase in deficit.<\/p>\n
Meanwhile, the post office is known to operate with its own service and sales costs, not residents’ taxes.<\/p>\n","protected":false},"excerpt":{"rendered":"