A further 170 jobs will be slashed from the workforce at Holden's South Australian factory, the company announced today.
Union officials were present as workers were told the news at the company's Elizabeth plant.
It follows a round of redundancies in February which saw 100 jobs go.
A statement released by Holden said the latest job cuts were "due to a reduction in demand of our Australian-built cars led by a sustained high Australian dollar."
Employees will be offered voluntary separation, it read.
The jobs cuts are not believed to be related to the demise of car-parts manufacturer Autodom, which closed a plant in Adelaide and two in Victoria on Thursday.
In March, Holden's received a $275 million funding package from the federal, South Australian and Victorian governments to keep its Australian operations afloat for the next 10 years.
Part of the deal meant two new models would be created at the Elizabeth plant.
State Opposition spokesman for Industry Steven Marshall said today's job losses showed the investment was a failure.
"The $275 million deal had no job commitments for workers at the Holden plant and no job security for firms in the wider automotive supply chain in South Australia," he said.
However, a spokesperson for Holden said the losses were crucial in allowing the company to meet its obligations.
"This latest adjustment is necessary in order to continue our plan to sustain auto manufacturing in Australia for the long-term and the implementation of GM’s plan to build two new models in Australia through until 2022," they said.