Canada Post paid bonuses last year despite record losses; Looking at stamp cost increase
· Toronto Sun
Canada Post CEO Doug Ettinger told a Commons government operations committee that it paid bonuses in 2025 while losing a record $1.57 billion according to Blacklock’s Reporter.
“We have cut a lot of costs on the management side,” Ettinger testified last Thursday.
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“We’ve taken more than 10% out of our management and executives. We got out of the guaranteed pension many, many years ago. We took $200 million over the last two years out of our discretionary spending, travel, those kinds of things.”
Still, Conservative MP Andrew Lawton (Elgin-St. Thomas, Ont.) raised the issue of bonuses.
“Are you still paying executive bonuses?” asked Lawton.
Ettinger said Canada Post has two bonus programs.
“We have a corporate team incentive, that’s the bonus program,” he said. “It’s called CTI. It hasn’t paid a dime since 2011, so, 15 years.”
“And the at-risk program?” asked Lawton.
“One of the things I lose sleep about is keeping the good people who are with us. In the broader compensation program, to keep that talent, we paid a bonus last year – sorry, at-risk pay.”
“How much?” asked Lawton.
“I don’t have the number at hand,” replied Ettinger.
“Will you provide it to the committee?” asked Lawton.
“Yes,” replied Ettinger. “That at-risk program has 7,000 people in it. Almost two-thirds of the 7,000 people are union members and it’s in their contract, so this is something we’ve had there.”
MP wants to know what executive bonuses were paid in 2025
Responded Lawson: “We’re not after what you’re doing to unionized workers. We want to know how much you and your colleagues are getting while posting a billion-dollar deficit.”
“I hear you,” replied Ettinger. “We’ll provide you with the total numbers.”
Meanwhile, Canada Post is signaling more stamp rate hikes in 2026 says Blacklock’s Reporter.
The price of mailing a domestic letter has increased 35% in the past 18 months, from 92¢ to $1.24.
“While the rate increase is helpful, rates are underpriced,” management wrote in a Third Quarter Financial Report.
“Canada Post is on track to post its eighth consecutive year of losses. The 2025 losses are expected to be the most significant of any annual losses in Canada Post’s history.”
The post office said it would be insolven t without a $1.034 billion line of credit approved by cabinet last Jan. 24, said the report.
Management blamed losses on a long-term decline in letter mail revenue and the growth of private sector parcel couriers.