Canada Post is laying off dozens of managers in an attempt to save money after years of severe financial losses, CBC News has learned.

The layoffs include firing three senior executives last month — most notably the company’s chief financial officer. Two vacant roles have also been eliminated, resulting in an overall 20 per cent cut to senior management, Canada Post said.

“They’re not handling mail or anything like that,” he said. “To the public, this will largely be invisible … this won’t impact service,” he said.

The Crown corporation, which does not receive taxpayer funding and is expected to sustain itself based on the services it offers, has been bleeding money every year since 2018 — totalling more than $3 billion.