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Canada Post sinks into red in quarter that included lockout

Postal employees march outside the South Central sorting station on Eastern Avenue in Toronto on June 15 2011 after workers were locked out.

Fred Lum/Fred Lum/The Globe and Mail

Canada Post Corp. reported a second-quarter loss of $10-million in its most recent quarter that saw the Crown corporation lock out its workers after a series of rotating local strikes that affected the national mail system.

Canada Post said the loss compared with a profit of $51-million in the same period a year ago.

Revenue totalled $1.76-billion, down from $1.83-billion, as Canada Post estimated the labour dispute cost the corporation about $167-million in revenue.

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The lockout ended after Canada Post workers were legislated back to work.

The legislation also imposed wages lower than the original offer from Canada Post before workers began rotating strikes that led to the full-scale lockout.

In addition to its core Canada Post business, the organization also has several subsidiaries including courier company Purolator, logistics firm SCI Group and Innovapost, a joint venture with CGI Group.

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