tanked Wednesday after saying it will take a fourth-quarter writedown of $372 million on its stuggling automotive interiors unit.
The charge consists of a $342 million goodwill writeoff in the unit reflecting a worsening business outlook, and $30 million toward restructuring, the company said.
Lear had already written off the unit's value by $670 million in the third quarter due to a drop in demand.
The company shares are trading at $26.38, down by 6.6% or $1.86.
Lear shares lost $2.53, or 9%, to $25.71 Wednesday.
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