Lear layoffs, on the record
Every job cut, severance charge and restructuring Lear reported in its annual reports, 2023 to 2025, quoted from the filings.
Headcount, as reported
| Annual report | Employees | As of |
|---|---|---|
| 10-K for 2023 | 186,600 | — |
Job cuts, severance and restructuring
Our summaryLear incurred pretax operational restructuring costs in 2023, including plant closures and workforce reductions.
Word for word“In 2023, we incurred pretax restructuring costs of $133 million and related manufacturing inefficiency charges of approximately $1 million, as compared to pretax restructuring costs of $154 million and related manufacturing inefficiency charges of approximately $5 million in 2022.” 10-K for 2023
Our summaryLear's restructuring actions include plant closures and workforce reductions, and the company plans further restructuring actions to align manufacturing capacity with regional production levels.
Word for word“We expect to incur approximately $76 million of additional restructuring costs related to activities initiated as of December 31, 2023, all of which are expected to be incurred in the next twelve months.” 10-K for 2023
Our summaryLear recorded employee termination benefits within its restructuring charges for the year.
Word for word“Employee termination benefits $ 119.2 $ 121.9 $ 85.1 Asset impairments Property, plant and equipment 5.1 9.9 4.2 Right-of-use assets 10.9 6.5 7.2 Contract termination costs 5.7 4.5 0.3 Other related net costs ( 8.2 ) 11.4 4.1 $ 132.7 $ 154.2 $ 100.9 73 Table of Contents Lear Corporation and Subsidiaries Notes to Consolidated Financial Statements (continued)” 10-K for 2023
Our summaryLear expects additional restructuring costs in its Seating and E-Systems segments related to activities initiated as of year-end 2023.
Word for word“The Company expects to incur approximately $ 62 million and approximately $ 14 million of additional restructuring costs in its Seating and E-Systems segments, respectively, related to activities initiated as of December 31, 2023, and expects that the components of such costs will be consistent with its historical experience.” 10-K for 2023
| Fiscal year ended | Severance costs | Restructuring charges | Cash paid for restructuring |
|---|---|---|---|
| 2016-12-31 | — | $63.6 million | $56.7 million |
| 2017-12-31 | — | $70.9 million | $45.6 million |
| 2018-12-31 | — | $88 million | $72.6 million |
| 2019-12-31 | — | $194.2 million | $135.7 million |
| 2020-12-31 | $104.2 million | $132 million | $127.4 million |
| 2021-12-31 | $85.1 million | $100.9 million | $94.7 million |
| 2022-12-31 | $121.9 million | — | $168.4 million |
| 2023-12-31 | $119.2 million | — | $80.5 million |
| 2024-12-31 | $129 million | — | $150.6 million |
| 2025-12-31 | $194.7 million | — | $203.7 million |
Lear has filed no restructuring notice (Form 8-K, Item 2.05) since 2016. Companies file one only for a cut they judge material, so many announced layoffs never appear as one. This page shows what the company reported to the SEC, not news reports or state layoff notices.
Read from Lear’s annual reports (10-K for 2025, 10-K for 2024, 10-K for 2023) and the financial data it files with the SEC, as of 2026-02-13. Every quotation is word for word from the filing linked beside it; how these pages are built and checked. The full record is in its company data sheet.