An inquiry into Canada Post has commenced, examining the recent month-long strike and the postal service's financial sustainability. The Crown corporation faces significant financial challenges, with losses projected to increase and cash reserves dwindling. CEO Doug Ettinger highlighted the urgency for change and the need for a new deal with the Canadian Union of Postal Workers. The federal government has provided a $1-billion loan to aid operations, but it's considered a temporary solution.
OTTAWA — An inquiry into Canada Post kicked off hearings Monday, looking into a month-long strike that ended in government intervention and the viability of the postal service's business model.
Meanwhile, chief financial officer Rindala El-Hage outlined how the corporation’s losses are expected to increase and that Canada Post was set to run out of cash by the end of July – a projection that didn’t include the countrywide postal strike. In December, federal Labour Minister Steven MacKinnon directed the Canada Industrial Relations Board to order the employees back to work if it determined a deal wouldn't be possible before the end of the year.
CANADA POST STRIKE LABOR DISPUTE FINANCIAL CRISIS GOVERNMENT INTERVENTION
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