BorgWarner Cuts 1,500 Jobs

Michigan-based BorgWarner, the world’s largest maker of automatic-transmission parts, rose in New York trading after posting a loss that was smaller than analysts’ estimates.

The firm is cutting payroll by 1,500 jobs.

Founded in 1880, BorgWarner is a US automotive parts supplier, known for its manual and automatic transmissions and transmission components, turbochargers, engine valve timing system components, and 4-wheel drive system components. The company has manufacturing facilities in the US, Europe, and Asia.