The company said headcount fell 9% when comparing December 31, 2022 with December 31, 2023, and that most of the 2023 reductions were operational. It said that headcount is unlikely to keep declining at the same rate in 2024.

1. 01

   The company said headcount fell 9% when comparing December 31, 2022 with December 31, 2023, and that most of the 2023 reductions were operational. It said that headcount is unlikely to keep declining at the same rate in 2024.

2. 02

   Expeditors said salaries and related costs fell 17% in 2023 compared with 2022, citing mainly lower bonuses and commissions. The company said its incentive-based compensation structure is working as designed.

3. 03

   The company said its operating income as a percentage of revenues less directly related cost of transportation and other expenses fell below its ongoing target of 30% in the Q3 2023 and Q4. It said this was the first time since Q1 2020 that this had happened.

4. 04

   Asked why information systems headcount has grown more than 30% over the past 4 years, the company said it has kept investing in its technology infrastructure to develop its core operating systems in-house and upgrade its increasingly complex systems, while mitigating cyber risks. It said it recently hired a Chief Information Security Officer and a Chief Technology Officer.

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AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

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