How Canada Post lost $3B in six years | About That

Canada Post has a monopoly on Canadian letter delivery. But financial reports show the Crown corporation lost $748 million in 2023 alone and is expected to run out of money by early 2025. Andrew Chang explains how - even when parcel delivery is at an all-time high - the company can’t catch a break, and what it means for your mail. CORRECTION (Nov. 12, 2024): An earlier version of this description said Canada Post lost $748 million in 2024. That number is the total losses before tax for 2023. According to Canada Post's most recent financial reports, it has so far lost $490 million in the first two quarters of 2024. »»» Subscribe to CBC News to watch more videos: http://bit.ly/1RreYWS Connect with CBC News Online: For breaking news, video, audio and in-depth coverage: http://bit.ly/1Z0m6iX Follow CBC News on TikTok: https://bit.ly/3TnHioe Follow CBC News on Twitter: http://bit.ly/1sA5P9H Find CBC News on Facebook: http://bit.ly/1WjG36m Follow CBC News on Instagram: http://bit.ly/1Z0iE7O Subscribe to CBC News on Snapchat: https://bit.ly/3leaWsr Download the CBC News app for iOS: http://apple.co/25mpsUz Download the CBC News app for Android: http://bit.ly/1XxuozZ »»»»»»»»»»»»»»»»»» For more than 80 years, CBC News has been the source Canadians turn to, to keep them informed about their communities, their country and their world. Through regional and national programming on multiple platforms, including CBC Television, CBC News Network, CBC Radio, CBCNews.ca, mobile and on-demand, CBC News and its internationally recognized team of award-winning journalists deliver the breaking stories, the issues, the analyses and the personalities that matter to Canadians.