Ottawa – Canada Post is laying off dozens of managers as part of cost-cutting measures, just weeks after receiving a $1 billion loan from the federal government to stabilize its shaky financial future.
The Crown corporation, which has been struggling with declining mail volumes and rising operational costs, confirmed the layoffs as part of a broader restructuring effort. A spokesperson for Canada Post stated that the decision was made to improve efficiency and ensure long-term sustainability.
“We are taking necessary steps to align our operations with evolving business realities,” the statement read.
The layoffs come at a time when Canada Post is under increasing pressure to modernize its services while dealing with mounting financial losses. The federal bailout last month was seen as a lifeline, but experts warn that more structural changes may be needed to keep the postal service viable.
While no frontline postal workers have been affected yet, unions and employees have expressed concerns about further job cuts in the future. The government has not commented on whether additional financial aid will be provided if Canada Post’s struggles continue.
This is a developing story. Stay tuned for updates.