A company that celebrated its 50th anniversary in Iowa City two years ago has announced plans to cut nearly 75 percent of its workforce.

International Automotive Components will go from 600 employees to 160 by the end of the year. The company celebrated 50 years in Iowa City in 2014. At that time, IAC employed around 800 in the city, according to IAC Group. It was one of Iowa City's top ten employers at the time and the plant was producing around 4,000 vehicle parts each day.

IAC spokesperson David Ladd says the layoffs are the result of Dodge phasing out the Dodge Dart. The instrument panel, center console, and door components for the Dart were all made in Iowa City.

The company will continue to make items for Ford, Chevy, General Motors, and Hyundai at the Iowa City plant at 2500 US Highway 6.

[via IACC Group and KWWL]