TRAVERSE CITY, Mich. (Michigan News Source) – On Wednesday, Hagerty auto insurance announced it is cutting 4% of its workforce. A spokesperson for the company said workers  based in Traverse City are impacted the most.

The cutbacks are not new for Hagerty. Last year, the company cut 6% of its workforce.

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Andy Heller, Director of Executive Communications, issued this statement:

“As part of a restructure of our business, Hagerty today announced that we are reducing our workforce by 4%, 30 of whom are based in Traverse City. We remain committed to Traverse City and still employ more than 600 people in the Grand Traverse Region.

Although a small percentage of our team members were impacted by this extremely tough decision, we are committed to being as supportive as possible to those leaving us. We are providing severance, a benefit stipend and career transition services.

This move is intended to position us for continued long-term growth and profitability as a leading automotive lifestyle brand. Hagerty continues to drive strong business momentum, including revenue growth of 27% in 2022, and look forward to maintaining this momentum in 2023 so we can invest in our people, brand and technology. We will miss our team members who were impacted by the restructuring.”