Canada post a net loss of $60 million in fiscal ye
Canada post recently announced that the third quarter of fiscal 2016 pretax net loss of $60 million, a year ago that number for c $13 million. Canada post said that during this period, the workers went on strike risk to commercial customers to make other arrangements to deliver their packages and mail. Canada post said, the net financial impact of the third quarter of the Labour force uncertainty estimated at c $100 million.A number that reflects the income significantly reduced, but also reflects the cost of slightly lower, because all lines of business volume has fallen sharply, so to work overtime and the use of temporary workers are reduced accordingly. Canada post and Canada postal workers union in 2016 reached a preliminary agreement on August 30, but business takes a long time to recover. Uncertainty of Labour makes the Canada post parcel department (main growth sector) a drop in for the first time since the first quarter of 2014.Compared with a year earlier, the parcel business income in the third quarter, reduced the c $30 million (7.9%), package volume decreased 2 million (5.2%). The Canadian government is currently in a thorough investigation into Canada post operation, in order to reduce costs and improve profitability.
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