Dozens of employees at Dealer.com in Burlington were laid off Tuesday according to a statement from Dealer.com’s parent company, Cox Automotive.
The statement says "approximately 45" of Dealer.com’s Burlington employees were informed Tuesday about the decision. According to a Cox Automotive spokesperson, Dealer.com employs 1,200 people.
Dealer.com was locally owned until late 2013, when New York-based Dealertrack bought the company for $1 billion. Dealertrack, in turn, was purchased by Cox Automotive for $4 billion in 2015.
Cox Automotive announced earlier in August that the company planned to cut 950 jobs globally – about 3 percent of the company's overall workforce.
Cox Automotive released the following statement about the layoffs:
"In regards to the recent news about upcoming layoffs at Cox Automotive, we are able to confirm the impact in Burlington is the reduction of approximately 45 team members which is under four percent of the workforce. We held discussions with those impacted today and are working closely with them during this transition. In addition to providing severance, employee assistance programs, and outplacement support from Cox Automotive, we are also working closely with several city and state agencies and officials to provide additional assistance to help with job placement. The types of positions impacted varies across the business.
"We are confident the changes we make today will position the company for greater long-term growth, stability and profitability. Dealer.com is committed to staying in Burlington and has experienced unprecedented growth since it started nearly 20 years ago, and we are proud of its community involvement and business leadership as one of the largest employers in the state. During these two decades, the technology and business sectors in Burlington have grown tremendously with the support of the city and state, along with a growing sense of entrepreneurism. While it is difficult to say goodbye to members of the Dealer.com family, we will use all of the resources available to assist impacted team members so they may remain in the local workforce and we can all maintain a strong and vibrant Vermont."
