Canada Post's annual report says that the corporation made $147 million net income in 2004 from the post office and its companies. It is the post office's tenth consecutive year of profit.

(Please see the highlights by downloading the PDF below)


CUPW Annual Assessment

While it was good year for postal profits, it was unquestionably a bad year for postal workers. The corporation lost a great deal of public confidence in the wake of the sponsorship scandal. It also lost ground by failing to make necessary investments (see 'Invest in Future'). Canada Post needs to deal with its past and invest in its future.

CUPW is calling on the proposed new president, Moya Greene, to make four strategic investments in the future of public postal service and postal workers. The union also wants the new president to restore public confidence by addressing the problems outlined in the Deloitte & Touche audit. The post office is not broke but it does have some big problems which need to be addressed.


Restore confidence

The union is particularly concerned with a problem that has been given little attention to date. Deloitte & Touche found that Canada Post failed to comply with its procurement and contracting out policies in 355 of the 599 cases that were reviewed. CUPW has asked Canada Post's Board of Directors and the Minister Responsible what they are doing to ensure compliance.


Invest in Future

CUPW has also asked Canada Post to use its profits to make four strategic investments in the future of public postal service and postal workers.


Last year, the union asked the corporation to:

Invest in the work force: The injury rate is out of control. One in eight CUPW members is injured each year. CUPW wants Canada Post to enter the twenty-first century by investing in the safety of workers.

Invest in post offices: Public post offices contribute to healthy communities in ways that profit-seeking alternatives that come and go do not, especially in rural communities. Communities need reliable infrastructures, like the post office, if they are to thrive. CUPW wants Canada Post to stop closing post offices and start investing more in service.

Invest in government and financial services: Canada Post could provide people from coast to coast with easy access to a whole variety of government and financial services. CUPW wants Canada Post to make better use of a network that is second to none.

Invest in door-to-door delivery: Canada Post could extend door-to-door delivery to many homes at minimal cost. CUPW wants the corporation to provide home delivery to new multi-unit developments and to new points of call in areas already receiving letter carrier delivery.
What happened?

The injury rate is still abominable. Canada Post is still closing post offices. There has been little investment in government services, financial services or door-to-door delivery. This has definitely NOT been a good year for postal workers or the public. We all deserve better after a decade of profits. CUPW intends to meet with the new president with a view to ensuring that Canada Post deals with its past and invests in its future.

Canada Post plans on releasing its five year corporate plan at a later date. Your local will receive additional information at that time.