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

From the Filing

0001324424-24-000009.txt : 20240226 0001324424-24-000009.hdr.sgml : 20240226 20240226170031 ACCESSION NUMBER: 0001324424-24-000009 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 15 CONFORMED PERIOD OF REPORT: 20240222 ITEM INFORMATION: Cost Associated with Exit or Disposal Activities FILED AS OF DATE: 20240226 DATE AS OF CHANGE: 20240226 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Expedia Group, Inc. CENTRAL INDEX KEY: 0001324424 STANDARD INDUSTRIAL CLASSIFICATION: TRANSPORTATION SERVICES [4700] ORGANIZATION NAME: 01 Energy & Transportation IRS NUMBER: 202705720 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-37429 FILM NUMBER: 24679945 BUSINESS ADDRESS: STREET 1: 1111 EXPEDIA GROUP WAY W. CITY: SEATTLE STATE: WA ZIP: 98119 BUSINESS PHONE: (206) 481-7200 MAIL ADDRESS: STREET 1: 1111 EXPEDIA GROUP WAY W. CITY: SEATTLE STATE: WA ZIP: 98119 FORMER COMPANY: FORMER CONFORMED NAME: Expedia, Inc. DATE OF NAME CHANGE: 20050420 8-K 1 expe-20240222.htm 8-K expe-20240222 0001324424 false 0001324424 2024-02-22 2024-02-22 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549   FORM 8-K CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 DATE OF REPORT (DATE OF EARLIEST EVENT REPORTED): February 22, 2024 EXPEDIA GROUP, INC. (Exact name of registrant as specified in its charter) Delaware   001-37429   20-2705720 (State or other jurisdiction of incorporation)   (Commission File Number)   (I.R.S. Employer Identification No.) 1111 Expedia Group Way W. Seattle , Washington 98119 (Address of principal executive offices) (Zip code) ( 206 ) 481-7200 Registrant’s telephone number, including area code Not Applicable (Former name or former address if changed since last report) Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: ☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) ☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) ☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) ☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Securities registered pursuant to Section 12(b) of the Act: Title of each class Trading symbol(s) Name of each exchange on which registered Common stock, $0.0001 par value EXPE Nasdaq Stock Market LLC (Nasdaq Global Select Market) Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company ☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐ 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 pred