Last $86.41 USD
Change Today -3.75 / -4.16%
Volume 2.3M
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As of 8:04 PM 09/30/14 All times are local (Market data is delayed by at least 15 minutes).

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lear corp (LEA) Details

Lear Corporation designs, manufactures, assembles, and supplies automotive seating, electrical distribution systems, and related components primarily to automotive original equipment manufacturers worldwide. It operates through two segments, Seating and Electrical. The company’s Seating segment provides seats and related components, such as seat structures and mechanisms, seat covers, seat foam, headrests, seat frames, recliner mechanisms, and seat tracks primarily for automobiles and light trucks, compact cars, and sport utility vehicles. Its Electrical segment provides electrical distribution systems for traditional powertrain vehicles, as well as for hybrid and electric vehicles. This segment’s products include wiring harnesses, terminals and connectors, junction boxes, electronic control modules, and wireless control devices; passive entry systems, remote keyless entry, and dual range/dual function remote keyless entry systems; lighting control modules; LED lighting control systems for the vehicle interior and exterior; and audio systems, such as amplifiers and vehicle sound systems. Lear Corporation was founded in 1917 and is headquartered in Southfield, Michigan.

122,300 Employees
Last Reported Date: 02/11/14
Founded in 1917

lear corp (LEA) Top Compensated Officers

Chief Executive Officer, President and Direct...
Total Annual Compensation: $1.2M
Chief Financial Officer and Senior Vice Presi...
Total Annual Compensation: $683.6K
Executive Vice President and President of Sea...
Total Annual Compensation: $818.2K
Vice President
Total Annual Compensation: $427.3K
Executive Vice President of Business Developm...
Total Annual Compensation: $818.2K
Compensation as of Fiscal Year 2013.

lear corp (LEA) Key Developments

Indiana Auto Workers Ratifies Deal with Lear Corp

All workers at Lear Corp.'s plant in Hammond, Ind. will earn more than $21 an hour by the end of a new four-year contract ratified on September 21, 2014 after a one-day strike shuttered the plant. The contract abolishes the unfair system that locked hundreds of workers into fast-food-like wages, paving the way for all workers in the plant to enter the middle class. Under the deal, wages will start at $16.50 and rise to $21.58 by the end of the agreement, establishing a new industry standard for seating workers across the country. Wages for some workers will rise more than 60%. By the end of the deal, many workers will earn between nearly $16,000 and nearly $19,000 a year more than they do now. Workers at the plant make seats for Explorer and Taurus vehicles produced at Fords Chicago Assembly Plant.

Lear Corp. Announces Tentative Contract Agreement with Workers

The president of a United Auto Workers local in northwest Indiana says workers will vote on a tentative agreement that ended a one-day strike at Lear Corp. plant that makes automotive seats. About 760 workers at the plant in Hammond, about 28 miles southeast of Chicago, that makes seats for the Explorer and Taurus models produced at Ford's Chicago Assembly Plant went on strike Saturday over a two-tier wage system. Members of UAW Local 2335 began returning to work 6 p.m. Sunday after the tentative agreement was reached. Local President Jaime Luna said the tentative agreement would end a system that locks newer workers into lower wages and raises the top wage to $21.58 an hour.

United Automobile Workers Reach Agreement with Lear Plant in Hammond

United Automobile Workers (UAW)-affiliated workers at a Lear plant in Hammond, Indiana embarked on strike action on 13 September 2014, but reached an agreement with the company on 14 September. The plant employs 760 workers and supplies seats for Ford's Chicago assembly plant, which builds the Explorer and Taurus. The workers were protesting for pay increases, and to eliminate the two-tier system and move all current tier 1 employees to tier 2 status. Negotiations began in August when the relevant contract expired, with Lear offering a 6% to 8% salary increase.


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