The Virginia Department of Transportation will give pink slips to nearly 700 of its workers this week, the final round of layoffs aimed at shrinking its payroll to 7,500 workers by midyear.

The staff reductions are the latest in a string of layoffs to help close a $4.6 billion dropoff in transportation revenues over the next six years. VDOT let go 500 full-time employees in the fall and has cut 450 hourly jobs.