Statement on Retention of Evercore Partners
The U.S. Postal Service must make fundamental changes to its business model to return to profitability and continue its mission of providing quality service to every address in the nation. Proposed changes include operational, compensation and benefits changes to reduce Postal Service annual expenses by $20 billion by 2015.
The Postal Service has hired Evercore Partners to review and advise the Postal Service on the ongoing restructuring of its business model. Evercore Partners has assisted other large, complex organizations experiencing financial challenges, including auto and other transportation companies.
Evercore Partners is a leading publicly-traded independent investment banking advisory firm that is recognized as an industry leader in advising clients on financial restructurings and other strategic transactions.
The Postal Service receives no tax dollars for operating expenses and relies on the sale of postage, products and services to fund its operations.