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Genworth announces Lynchburg layoffs

By Tim Saunders
Published On: Jun 06 2013 06:25:29 AM EDT
Updated On: Jun 06 2013 09:28:24 AM EDT
Genworth announces Lynchburg layoffs
LYNCHBURG, Va. -

One of Lynchburg's largest employers is laying off part of its workforce.

Genworth Financial, Inc. is eliminating approximately 400 positions across the United States, including 39 positions in Lynchburg.

Genworth spokesman Tom Topkina said some of the jobs being cut were vacant positions that are not being filled.

76 positions are being eliminated in Richmond.  The remaining jobs are spread throughout Genworth's other U.S. properties.

The layoffs are part of an "expense reduction plan" that is estimated to save Genworth $80 to $90-million annually.

Genworth is based in Richmond and employs more than 5,800 people.  The company sells and manages insurance policies and financial investment plans.