AP NEWS

Genworth Financial to layoff about 80 employees

March 11, 2019

LYNCHBURG, Va. (AP) — A company has announced the layoff of about 80 employees, including 35 in a Virginia city.

The News & Advance reported Monday that Genworth Financial announced the layoffs of 35 people in Lynchburg and 21 people in Richmond. The rest are remote workers.

Henrico County-based Genworth is temporarily suspending the sales of individual long-term care insurance and income Assurance Annuity products through brokerage general agencies. Instead, it’ll be distributing these products directly to consumers and through affinity and association programs along with other distribution channels.

Genworth Financial spokesperson Julie Westermann says they’ll continue to sell group long-term care insurance through their traditional channels.

Impacted employees will receive at least a 60-day notice of the layoff and are eligible to receive transition benefits. Employees in good standing can apply for any open position at Genworth.

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Information from: The News & Advance, http://www.newsadvance.com/

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