Profile image
By silveristhenew (Reporter)
Contributor profile | More stories
Story Views

Now:
Last Hour:
Last 24 Hours:
Total:

Royal Canadian Mint struggles to make money, documents show

Sunday, February 26, 2017 8:28
% of readers think this story is Fact. Add your two cents.

(Before It's News)

gata.org / By Dean Beeby / Saturday, February 25, 2017

The Royal Canadian Mint just isn’t making the money it used to.

Revenue is down sharply, jobs have been chopped, morale is in the tank, and formerly successful lines of business are being shut down — even as the mint spends millions of dollars on new executive offices.

Once a cash cow, the mint — which actually lost money in 2015 — is struggling financially.

Latest figures for the third-quarter of 2016 show that revenues were down by $208 million, or about 27 percent, and profits were down by $6.5 million, or 61 percent.

The weak financials mean the mint’s 1,200 employees likely won’t get their general annual bonus, which is based on meeting corporate profit targets. In April 2016 each worker took home an average of $8,204 in bonuses. …

READ MORE

The post Royal Canadian Mint struggles to make money, documents show appeared first on Silver For The People.



Source: http://silveristhenew.com/2017/02/26/royal-canadian-mint-struggles-to-make-money-documents-show/

Report abuse

Comments

Your Comments
Question   Razz  Sad   Evil  Exclaim  Smile  Redface  Biggrin  Surprised  Eek   Confused   Cool  LOL   Mad   Twisted  Rolleyes   Wink  Idea  Arrow  Neutral  Cry   Mr. Green

Top Stories
Recent Stories
 

Featured

 

Top Global

 

Top Alternative

 

Register

Newsletter

Email this story
Email this story

If you really want to ban this commenter, please write down the reason:

If you really want to disable all recommended stories, click on OK button. After that, you will be redirect to your options page.