Time For CPC to Come Clean About Finances and Mail Volumes

Recently the CUPW Negotiating Committee made a presentation to CPC on the Union’s perspectives concerning the financial situation of Canada Post. The Union told CPC that we have no confidence in the public statements that have been issued by CPC in recent years concerning the Corporation’s financial situation.

Since accurate information is necessary for the negotiations process we followed up the presentation by making a formal information request to the Corporation:

Corporate Financial Planning

We have asked for a presentation on CPCs planning process so that we can understand why CPC’s financial projections are consistently so wrong. For example in 2014 CPC’s Corporate Plan called for a net loss of $206 million but the actual result was a profit of $198 million.

Cost of CMB and Home Delivery

Canada Post has been changing the numbers it uses for the costs of different types of delivery. We want an explanation of what is included in their figures.

CPC’s Accounting Practices

In 2013 CPC introduced new accounting system that turned a massive profit into a loss and restated the $94 million profit of 2012 into a loss of $83 million. We want to know if they have any other accounting changes planned.

Conference Board of Canada

The financial predictions in the Conference Board Report have proven to be widely inaccurate yet Canada Post management keeps using the report to justify massive cutbacks. We want to know if CPC still actually believes in the Report and if so why?

The Impact of the CMBs

In 2014 CPC spent a small fortune on the CMB program which turned out to be a total fiasco. We want to know how much money was spent on capital costs, installation and all other costs associated with this program.

Volume Numbers Are A Mystery

We have already asked twice for the actual mail volumes numbers that have been used in all of the CPC quarterly Reports. The Reports always contain percentages but not the actual numbers. So far the reply has been that the Corporation does not know the numbers yet. This is hardly reassuring. We will continue to request the actual data so the Corporation’s public statements can be verified.

Hopefully we will receive answers to our information requests in the near future. We will keep you informed of developments as they occur.

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In Solidarity,