Canada Post reports record loss

The financial health of Canada Post has reached a critical point following a year of unprecedented losses.

Officials attribute the $1.57 billion deficit to a combination of declining mail volumes, rising operational costs, and the need for significant capital investment.

The report comes as postal workers begin voting on a new contract proposal aimed at resolving a long-standing labor dispute.

The government is now facing pressure to implement radical changes to the postal service's business model to ensure its long-term viability.