Canada Post says strike threat is already affecting revenue [Video]

Canada Post says the threat of a strike is “rapidly impacting” its revenue as customers who worry about their holiday packages not arriving in time switch delivery services.

“Retailers require certainty for their shipments at this critical time of year and are moving their parcels to other delivery companies,” the Crown corporation wrote in a statement Monday night.

“Customers have also cancelled direct marketing campaigns to avoid having items stuck in the postal network in the event of a strike.”

The volumes of mail and parcels are “down significantly and continue to erode,” the statement said, warning that the strike threat will only further undermine the company’s deteriorating financial situation.

Canada Post and its unionized employees have been in contract talks for nearly a year. Last month, 95 per cent of workers voted in favour of a strike.

Negotiations continued through the weekend, with both sides escalating their language on …