Expedia Reports Costs for Exit/Disposal Activities

TL;DR

**Expedia is incurring costs for exit or disposal activities, signaling potential restructuring.**

AI Summary

Expedia Group, Inc. filed an 8-K on February 26, 2024, reporting an event on February 22, 2024, related to costs associated with exit or disposal activities. This filing indicates the company is undertaking actions that will incur specific expenses, as detailed under Item 2.05 of the Form 8-K. The report was filed from their Seattle, Washington headquarters.

Why It Matters

This filing signals potential restructuring or strategic shifts within Expedia Group, which could impact future financial performance and operational efficiency.

Risk Assessment

Risk Level: medium — Exit or disposal activities often involve one-time costs that can impact short-term profitability, but may lead to long-term benefits.

Key Players & Entities

• Expedia Group, Inc. (company) — registrant
• February 22, 2024 (date) — date of earliest event reported
• February 26, 2024 (date) — filing date
• Seattle, Washington (location) — principal executive offices
• 001-37429 (other) — Commission File Number

FAQ

Key Financial Figures

• $0.0001 — nge on which registered Common stock, $0.0001 par value EXPE Nasdaq Stock Market LL
• $80 million — be recorded in 2024, are expected to be $80 million to $100 million, and are predominately
• $100 m — 2024, are expected to be $80 million to $100 million, and are predominately employee s

Filing Documents

• expe-20240222.htm (8-K) — 26KB
• 0001324424-24-000009.txt ( ) — 175KB
• expe-20240222.xsd (EX-101.SCH) — 2KB
• expe-20240222_def.xml (EX-101.DEF) — 14KB
• expe-20240222_lab.xml (EX-101.LAB) — 27KB
• expe-20240222_pre.xml (EX-101.PRE) — 15KB
• expe-20240222_htm.xml (XML) — 3KB

05. Costs Associated with Exit or Disposal Activities

Item 2.05. Costs Associated with Exit or Disposal Activities. On February 22, 2024, Expedia Group, Inc. (the " Company ") committed to restructuring actions to recalibrate resources in light of the Company's organizational and technological transformation. Subject to compliance with local consultation obligations where applicable, the restructuring actions are expected to result in a workforce reduction impacting approximately 1,500 employees and the communication of such actions to a portion of affected employees was commenced on February 26, 2024. Total pre-tax charges and cash expenditures associated with the restructuring actions, all of which are expected to be recorded in 2024, are expected to be $80 million to $100 million, and are predominately employee severance and compensation benefits costs. This Current Report on Form 8-K contains forward-looking statements relating to the Company's restructuring actions. These statements are subject to risks and uncertainties and are not guarantees of future performance. Many factors could cause actual results to differ materially from those expressed or implied by such statements. The "Risk Factors" section of our most recent Annual Report on Form 10-K, as well as our subsequent Quarterly Reports on Form 10-Q and other filings with the Securities and Exchange Commission also describe important factors that could cause the Company's actual results to differ materially from those stated or implied in the Company's forward-looking statements. All forward-looking statements are based on management's current estimates, projections and assumptions, and except as required by law, the Company assumes no obligation to update them. SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. EXPEDIA GROUP, INC. By: /s/ Julie Whalen Julie Whalen Chief Financial Officer Dated: February

View Full Filing

View this 8-K filing on SEC EDGAR