's Parent Company Announces Global Layoffs

BURLINGTON, Vt. - The parent company of, Cox Automotive, announced global layoffs Monday.

Chintan Talati, Senior Director of Public Relations told LOCAL 22 & LOCAL 44 that 950 team members will be impacted.  Talati says the company has 35,000 total employees.

We don't know whether this means employees at Burlington's will be affected.  Talati said in his email, "we are still in the process of determining impact in our locations and we don't have that information at this time."

Below is the statement from Cox Automotive:

We recently shared with our team members that as part of the ongoing integration of Cox Automotive, we will trim our workforce by approximately 950 team members, which is about 3 percent of our workforce. These changes, while difficult, will help us fuel more innovation, drive more growth and deliver the elegant, connected experience we've promised to our clients and the industry.

We do not take these decisions about job impacts lightly and will remain true to our values, treating everyone with dignity, fairness and respect throughout this process. We are committed to moving quickly to build a stronger and more agile organization that gives us the best chance to succeed well into the future.

Atlanta-based Cox Automotive officially closed the deal with's former parent company Dealertrack at the end of 2015.

At the time, LOCAL 22 & LOCAL 44 reported Cox acquired Dealertrack in an all-cash transaction valued at $4 billion, or $63.25 per share.

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