Connected car company Xevo, owned by Lear, hit with layoffs in Seattle area
The company, acquired by global automotive giant Lear in 2019, develops connected-car software for automakers including Toyota, GMC, Hyundai, and others.
Xevo has more than 200 employees, with about 150 based in the Seattle region, according to LinkedIn. We’ve reached out to the company for comment and will update when we hear back.
Xevo was originally founded in 2000 as UIEvolution by Satoshi Nakajima, who is known as the architect behind Microsoft products like Windows 95 and Internet Explorer 3. It rebranded in 2016 after the company acquired Seattle-based machine learning startup Surround.io Corp.
Lear, based in Southfield, Mich., specializes in automotive seating and electrical systems and employs more than 174,000 people across 257 facilities in 38 countries. It reported $5.4 billion in sales for its most recent quarter, up from $4.5 billion a year ago, and net income of $204 million, up from $76 million. Revenue from its E-Systems business was up more than 20% to $1.3 billion. “We continue to invest in innovation and technology to further strengthen our competitive position,” Lear CEO Ray Scott said in a statement in May.