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Fortune
Fortune
Christiaan Hetzner

Fortune 500 auto-parts supplier Lear looks to slash some 15,000 jobs this year globally

Lear Xiaomi BYD Ray Scott Geely Mexico Trump United States
Chinese electronics company Xiaomi's first electric vehicle 'Xiaomi SU7 model' is seen on display at a launch event in Beijing on March 28, 2024. (Credit: Michael Zhang—AFP via Getty Images)
  • The seating and wire harness specialist is also looking to drive growth by winning new business from the one group of automakers most likely to grow in the near future: Chinese domestic brands like BYD, Feely, and now Xiaomi.

Auto parts supplier Lear is looking to further reduce headcount this year to protect profits amid a continued decline in vehicle production in North America and Europe.

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