---
schema_version: "secwatch.filing_event.v1"
accession: "0000950170-24-025230"
form_type: "8-K"
ticker: "EXPD"
cik: "0000746515"
company_name: "EXPEDITORS INTERNATIONAL OF WASHINGTON INC"
filed_at: "2024-03-05T23:59:59+00:00"
generated_at: "2026-06-05T04:25:14.551650+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.45
calibrated_materiality_score: 0.45
confidence: "high"
source: SEC EDGAR
---

# Expeditors provides operational update; headcount down 9% YoY, salaries down 17%

## Summary
- Headcount declined 9% YoY as of Dec 31, 2023, mostly operational reductions; pace expected to slow in 2024.
- Salaries and related costs fell 17% in 2023 vs 2022, driven by lower bonuses and commissions.
- Operating income margin below 30% target in Q3 and Q4 2023, first time since Q1 2020.
- Hired new Chief Information Security Officer and Chief Technology Officer to bolster cybersecurity and systems.
- Reallocating administrative and non-operational headcount back into operational roles.

## SEC filing metadata
- accession: 0000950170-24-025230
- form_type: 8-K
- ticker: EXPD
- cik: 0000746515
- company_name: EXPEDITORS INTERNATIONAL OF WASHINGTON INC
- filed_at: 2024-03-05T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.45
- calibrated_materiality_score: 0.45
- confidence: high
- sec_items: 7.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/746515/000095017024025230/0000950170-24-025230-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/746515/000095017024025230/expd-20240304.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-24-025230
- JSON: https://secwatch.observer/filing/0000950170-24-025230.json
- Plain text: https://secwatch.observer/filing/0000950170-24-025230.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.