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Genworth Financial slashes unspecified number of jobs

Genworth Financial says some employees have been notified that their positions will be...
Genworth Financial says some employees have been notified that their positions will be eliminated, but declined to say how many jobs will be cut.(WDBJ7)
Published: Jan. 21, 2021 at 4:54 PM EST
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LYNCHBURG, Va. (WDBJ) - One major employer in our area says it’s cutting jobs.

Genworth Financial says they’ve notified some employees their positions will be eliminated.

A spokesperson declined to specify the number of cuts the company will make.

They say Genworth is “focusing on its plan to realign [its] expense structure, which includes impacts to people, processes and programs” because of uncertainty regarding a merger with China Oceanwide Holdings.

The company says impacted employees will receive a market-based severance benefits package and comprehensive outplacement services.

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