Skip to main content

Featured

Weekly Market Snapshot: Records Everywhere as a Blowout Canadian Jobs Report Meets a Shock U.S. Loss

  August 8, 2026 A short, holiday-shortened week still managed to deliver record after record. The TSX, the S&P 500, the Nasdaq, and Europe's major indices all closed the week at or near all-time highs — even as Friday's jobs numbers told two very different stories on either side of the border. Here's everything that moved your money this week, and what to watch next. The Bottom Line The TSX capped its biggest weekly advance in about four months, closing Friday at a record 36,381.23 after Canada added a blowout 75,100 jobs in July (versus 17,800 expected). Wall Street also hit fresh records — but for the opposite reason: US employers unexpectedly cut 23,000 jobs, which markets read as reducing the odds of any further Fed rate hikes. Add in a fourth straight record close for European stocks, a wild swing in oil, and gold pushing toward US$4,400/oz, and it was a week where almost every major asset class ended up higher. 🇨🇦 Canada: TSX's Best Week Since April Canadia...
Post a Comment
Read more

article

Labels

Canada Post Faces Workforce Decline Amid Financial Struggles

 

            A Canada Post employee returns to a delivery depot in Vancouver, B.C., Tuesday, Dec. 17, 2024.


Canada Post has announced that it expects to lose 30,000 employees by 2035 through retirement and voluntary departures, a move the Crown corporation says is part of its plan to reduce costs and modernize operations.

At its annual meeting, CEO Doug Ettinger explained that the postal service will rely on “attrition first” to downsize from its current workforce of about 62,000 employees. The company anticipates 16,000 departures by 2030, followed by another 14,000 by 2035.

The decision comes as Canada Post continues to grapple with mounting financial losses. Executives revealed the corporation is now “effectively insolvent”, with billions in cumulative deficits. The decline in traditional mail volumes, combined with rising costs and competition in parcel delivery, has forced the organization to rethink its future.

Ettinger emphasized that the downsizing strategy aims to minimize the impact on employees, avoiding mass layoffs where possible. Instead, the company hopes natural retirements and voluntary departures will gradually shrink the workforce while aligning operations with “the modern needs of the country and our financial reality.”

The announcement highlights the broader challenges facing postal services worldwide, as digital communication reduces demand for traditional mail and e-commerce reshapes delivery expectations. For Canada Post, the next decade will be a test of whether it can adapt to these changes while maintaining service across the country.

Labels:

Comments

Post a Comment