This material may not be published, broadcast, rewritten or redistributed without permission. The Richmond Times-Dispatch reports a spokeswoman for Genworth confirmed on Wednesday that the company is starting to notify employees of job reductions. Copyright 2021 The Associated Press. 7 Genworth Cost of Care Survey, conducted by CareScout, June through November 2021. Now the company says it will lay off at least 350 employees. The layoffs were announced at plant-wide meetings on Thursday. Can I Be Laid Off While On Workers Compensation? Layoffs with supply and demand are common with the PACCAR company, last year over 500 people were laid off at the beginning of the year of the company 1,600. HENRICO COUNTY, Va. -- Virginia-based insurance giant Genworth Financial has begun notifying some of its workers that their jobs are being cut after a proposed merger with a China-based. ROSS Kenworth has been working hard to keep employees working since the chip shortage has caused the company to park semis in an effort to keep but employees and the company moving forward. In a story Feb. 6 about layoffs at Genworth Financial Inc., The Associated Press , https://www.spglobal.com/marketintelligence/en/news-insights/latest-news-headlines/genworth-announces-job-cuts-in-wake-of-stalled-merger-62203732, Jan 20, 2021 Company spokesperson Julie Westermann in an email to S&P Global Market Intelligence confirmed the layoffs , which were first reported by the , https://newsadvance.com/business/genworth-layoffs-announced-in-lynchburg-elsewhere/article_7f2deee6-cf51-11e2-96b4-0019bb30f31a.html, In addition to the layoffs , 150 open positions will not be filled, bringing the number of affected jobs to 400, or nearly seven percent of Genworths 5,840 , https://www.wtvr.com/news/local-news/genworth-financial-notifies-workers-about-job-cuts, Jan 20, 2021 HENRICO COUNTY, Va. Virginia-based insurance giant Genworth Financial has begun notifying some of its workers that their jobs are being , https://richmond.com/business/genworth-financial-cutting-95-jobs-from-its-henrico-county-corporate-headquarters-operations/article_227b5627-0b40-5e13-b683-7318547e5fbc.html. Genworth sells both long-term care insurance that covers the costs of nursing home or at-home care, and home mortgage insurance covering defaults on home loans. love buckeyes and Ohio. (Copyright 2021 The Associated Press. The app features breaking news alerts, live video, weather radar, traffic incidents, closings and delays and more. News Releases. (adsbygoogle = window.adsbygoogle || []).push({}); Circleville resident for 5 years, born and raised in Maine. Environmental Impact Jan 26, 2021 Insurance company Genworth Financial Inc. is laying off 95 employees from its corporate headquarters operations in Henrico County. We regret the impact this will have on our colleagues and their families. Compound Annual Growth Rate based on Genworth Cost of Care Surveys conducted from 2017 to 2021. Ms. Harrison is resigning to pursue other opportunities. His resignation as an executive officer and termination of employment will trigger payments to him, vesting acceleration of certain equity awards and retirement benefits pursuant to the previously disclosed terms of the Company?s Key Employee Severance Plan. The Guardian reached out to PACCAR for a statement about the layoffs but did not hear back. In 2018, the firm was losing money, and by 2020 net income was more than $432 million. Recommend. The layoffs are a result of company restructuring after poor fourth-quarter results, suspending "sales" of two business units traditional life insurance and fixed-annuity products to address. The company will continue to build Trucks without chips but at a much slower rate than they have this year. Sep 20, 2021, 16:17 ET. Layoffs : Downsizing related discussion, postings, Topics regarding layoffs at Genworth Financial Inc. LYNCHBURG, Va . Many restructurings and layoffs . Jan 26, 2021 Insurance company Genworth Financial Inc. is laying off 95 employees from its corporate headquarters operations in Henrico County. https://www.thelayoff.com/genworth-financial. China Oceanwide agreed in October 2016 to acquire Genworth for $2.7 billion, or $5.43 per share. https://www.lifeinsuranceinternational.com/news/us-insurer-genworth-financial-notifies-staff-of-layoffs/, Jan 21, 2021 According to the Richmond Times-Dispatch, the redundancies follow an indefinite delay in Genworths planned merger with a China-based investment , https://www.nbc12.com/2021/01/21/genworth-begins-telling-some-workers-their-jobs-will-be-cut/, Jan 20, 2021 RICHMOND , Va . Instead, it will be distributing these products direct to consumers and through affinity and association programs and other distribution channels. The closing of the acquisition has since been delayed 17 times, mostly as Genworth sought approval for the deal from numerous state and federal government insurance regulators. Login/Register Genworth sells both long-term care insurance that covers the costs of nursing home or at-home care, and home mortgage insurance covering defaults on home loans. You can cancel at any time! Weve been able to build trucks all the way through the process and then stage them for those parts, Kenworth General Manager Kevin Baney told FreightWaves earlier this summer. Genworth: Financial Solutions for Long Term Care Check the Status of Your Claim Now Login to track the status of your submitted claims and payments. Now its the economy shutting down because we cant get parts, but still, because theres a supply chain issue, the workers are going to take it on the chin, again.. 2019 Annual Report (PDF 9.83 . The move comes a couple of weeks after Genworth revealed that the "end date" of its merger agreement with China Oceanwide has not been extended. Upon Ms. Harrison?s resignation, it is expected that Melissa Hagerman will be appointed Executive Vice President and Chief Human Resources Officer. Can You Get Laid Off While On Maternity Leave, Can Laid Off Union Workers Collect Unemployment, How Long Does Insurance Last After Being Laid Off. Can I Be Laid Off While On Workers Compensation? Market Intelligence During the 2020 plink slip express, the plant was idled for two weeks to prepare for the layoffs. Layoffs - TheLayoff.com It had revenues of $1.1. August 4, 2020. Employees in good standing can apply for any open position at Genworth. where was the first artificial ice rink built; hmh science dimensions the diversity of living things answer key; michigan microbusiness license requirements; Thats why we are going to invest billions into bringing chip manufacturing to the United States, the President said. {{start_at_rate}} {{format_dollars}} {{start_price}} {{format_cents}} {{term}}, {{promotional_format_dollars}}{{promotional_price}}{{promotional_format_cents}} {{term}}, Independent Contractor (Newspaper Carrier), Couple chooses Lynchburg region for move, starts over, After School Satan Club hosts movie night at Jefferson Forest, Police: Girl dies after Lynchburg shooting, Amherst home a country-style Airbnb for short-term stays, Campbell County public schools superintendent announces retirement, Rustburg man dies after Campbell County crash, Bedford County Animal Shelter receives estate donation, Something lurking in seashells may give Outer Banks beachgoers a scare, park warns, Lynchburg man pleads guilty to second-degree murder in Appomattox shooting death, Bella Vista Hotel & Suites, formerly the Kirkley Hotel, now open in Lynchburg, Man dead after standoff with police at Red Roof Inn in Charlottesville, Nebraska cheerleader competes by herself at state competition, but crowd doesn't let her feel alone, Letter to the editor: School board conduct, Lynchburg police: Investigation continues in shooting death of 12-year-old, Mills' hot 3-point shooting spurs late LCA surge, helps Bulldogs capture Region 3C crown, Deadline extended again for China-based investment company to acquire Genworth, Global race is on to improve EV range in the cold, Moscow reportedly threatened new parents in Ukraine: Register your newborns as Russian or else, The impact of climate change will be felt worse in these three U.S. cities, Scientists reveal hidden corridor in Great Pyramid of Giza. We are used to layoffs, we want to thank Kenworth for keeping us employed by parking trucks instead of laying us off at the beginning of the year when we first felt the chip shortage, said an employee. Genworth Financial has announced the layoff of about 80 employees35 . We also expect national home prices to rise by 5% in 2021. The layoffs follow the disclosure that Genworth was stopping further sales of its money-losing life and annuity products, and focusing instead on its profitable long-term care and mortgage insurance lines. Genworth Financial Inc. has told some of its employees that their positions have been eliminated, after the company's long-awaited merger with China Oceanwide Holdings Ltd. was put on hold indefinitely. The overall risk-based capital (RBC) ratio at the U . It was exactly one year ago this month that the trucking factory had their last round of layoffs. I know they are [sitting in lots]. Westermann provided no other details on the layoffs, "out of respect for our colleagues who are losing their jobs.". The rest , https://www.thelayoff.com/genworth-financial. content Home; Categories. Kenworth Will Layoff Over 350 People Dropping Build Rates, Breaking Serious Crash One Entrapped in Hocking County, Funeral Services for Pike County Homicide Victim. You have permission to edit this article. Terms & Conditions! However, they have been supportive of the staff in transitioning to other opportunities during the , https://www.wtvr.com/news/local-news/genworth-financial-notifies-workers-about-job-cuts, Jan 20, 2021 HENRICO COUNTY, Va . Weve done so much overseas thats weve lost control of so much of our economy. Our top priority will be to ensure that they will be treated with the utmost dignity and respect, said Genworth Financial spokesperson Julie Westermann. As part of the. Genworth announces job cuts in wake of stalled merger, Insight Weekly: TMT deals plunge; bank analysts cut 2023 outlook; US retail sales rebound, Infographic: The Big Picture European Outlook 2023, The Pipeline: M&A and IPO Insights | There will be better days for investment banking. https://richmond.com/business/henrico-based-insurer-genworth-financial-notifying-employees-of-job-cuts/article_13acf4b5-4509-5427-82ab-76de304e75cb.html, Jan 20, 2021 A spokeswoman for Genworth , which has thousand of employees in Virginia mainly in the Richmond and Lynchburg areas, confirmed on Wednesday , https://www.glassdoor.com/Reviews/Employee-Review-Genworth-RVW10751639.htm. Kenworth for months has assembled trucks without the chips and parked them on the Ross County Fairgrounds and on their lot with the plan to insert the trucks back into the assembly line after needed chips are acquired. The reason the trucks are there is because the company lacks a microchip to make the trucks road-worthy. Company spokesperson Julie Westermann in an email to S&P Global Market Intelligence confirmed the layoffs, which were first reported by the . Ross Co. grand jury returns 21 indictments, Ohio releases 84,000 Rainbow Trout in 88 locations for spring fishing, Chillicothe man sentenced to prison for sexually assaulting a child, Ex-Jackson Co. Sheriffs Office employee sentenced to prison. https://www.wric.com/business/genworth-laying-off-95-richmond-area-employees/. A spokeswoman for Genworth confirmed on Wednesday that the company is starting to notify employees of job reductions, the Richmond Times-Dispatch reported. Operating income for Genworth has increased over that past three years. Genworth has thousands of employees in Virginia, mainly in the Richmond and Lynchburg areas. The proposed job cuts follow by two weeks word from company president and CEO Thomas McInerney to investors and analysts on a Jan. 5 conference call that the company would look to cut costs after the merger deal with China Oceanwide Holdings had been put on hold. ), Genworth begins telling some workers their jobs will be cut, Youngkin signs universal license recognition law at Richmond barber shop, National Park Service says never push a slower friend down when escaping a bear, V.D.O.T to conduct lane closures on I-95 north in Henrico, New information released by police in Hopewell double homicide, 17 after 7:30 policy now in effect at Richmonds Movieland, Petersburg Public Schools announce 2023 Division Teacher of the Year. The layoffs were announced at plant-wide meetings on Thursday. Layoffs TheLayoff.com, Genworth Financial notifies workers about job cuts WTVR.com, Latest Genworth Financial Layoffs in USA 6figr.com, Genworth laying off 95 Richmond-area employees WRIC, Genworth announces Lynchburg layoffs 105.9 WLNI-FM, Genworth Financial cutting 95 jobs from its Henrico County , Genworth Financial, a major Lynchburg employer, notifying , Genworth layoffs announced in Lynchburg, elsewhere | Business , Genworth begins telling some workers their jobs will be cut, Can You Be Laid Off While On Medical Leave, Can A Company Find Out If You Were Laid Off, Can You Say You Were Laid Off Instead Of Fired, Can You Go On Disability After Being Laid Off, Can You Be Laid Off While On Short-Term Disability. The closing of the acquisition has since been delayed 17 times, mostly as Genworth sought approval for the deal from numerous state and federal government insurance regulators. Genworth has thousands of employees in Virginia, mainly in the Richmond and Lynchburg areas. According to a source, the layoffs will start on September 10, 2021, and it is unknown how long it will last. Among the COLUMBUS, Ohio --- The Ohio Department of Natural Resources (ODNR) Division of Wildlife will release 84,000 rainbow trout in 88 lakes and ponds starting on March 16, 2023. CHILLICOTHE, Ohio --- A Chillicothe man was sentenced to prison this week for charges related to the sexual assault of a child. Investors. The deadline for Genworth Financial Inc.s proposed $2.7 billion acquisition by a China-based investment company is being delayed yet again as. The Virginia Employment Commission (VEC) Warn Notice was published Jan.. Virginia -based insurance giant Genworth Financial has begun notifying some of its workers that their jobs are being , https://roanoke.com/business/genworth-financial-will-layoff-200-in-lynchburg-70-in-richmond/article_92443620-b56f-52f3-89fc-340f49a9b0fb.html, The layoffs are a result of company restructuring after poor fourth-quarter results, suspending sales of two business units traditional life insurance , https://richmond.com/business/genworth-financial-cutting-95-jobs-from-its-henrico-county-corporate-headquarters-operations/article_227b5627-0b40-5e13-b683-7318547e5fbc.html. More than four years after it was first announced, Genworth Financial Inc. The deal, which originally was announced in October 2016, was expected to close by Dec. 31, 2020, but missed that date because of issues surrounding the completion of final steps. All rights reserved. The company repurchased $146 million and $14 million principal amount of Genworth Holdings, Inc.'s (Genworth Holdings) senior notes with 2021 maturity dates for a pre-tax gain (loss) of $(4 . The company reported, October 2016: Genworth agreed to be acquired by, Genworth Financial Inc. Its important to note that, The provider of mortgage and long-term care insurance based in Richmond, Virginia, said Tuesday that. Job stable, work life balance, nice benefit. That is a more appropriate question for the City Auditor, but to answer your question, it will hurt the City of Chillicothes income tax revenue for the upcoming quarter, said County Auditor Tom Spetnagel. This material may not be published, broadcast, rewritten or redistributed. The company didnt say how many workers would be eliminated, or when the cuts would occur. Genworth Financial, Inc. (NYSE: GNW) today reported results for the quarter ended March 31, 2021. Layoffs TheLayoff.com, Can You Be Laid Off While On Medical Leave, Can A Company Find Out If You Were Laid Off, Can You Say You Were Laid Off Instead Of Fired, Can You Go On Disability After Being Laid Off, Can You Be Laid Off While On Short-Term Disability. Frequently Asked Questions Is Genworth Financial in trouble? Can I Be Laid Off While On Workers Compensation? HENRICO COUNTY, Va. -- Virginia-based insurance giant Genworth Financial has begun notifying some of its workers that their jobs are being cut after a proposed merger with a China-based investment firm was delayed. According to employees, the layoffs at the factory known for making semi trucks will impact anyone hired since April 2020; the factory is the second largest employer in Ross County. Genworth Financial Inc. Richmond Times-Dispatch file. Published by at June 13, 2022. Please enter your username or email address to reset your password. LYNCHBURG, Va. (AP) _ Genworth has announced the layoff of about 80 employees, including 35 in Lynchburg. https://richmond.com/business/genworth-financial-cutting-95-jobs-from-its-henrico-county-corporate-headquarters-operations/article_227b5627-0b40-5e13-b683-7318547e5fbc.html. Sign up for our newsletter to keep reading. Recent Releases; Archive; Financials & Reports. As of the end of 2021, Genworth now projects that the LTC premium increases and benefit reductions achieved since 2012 have improved the legacy LTC portfolio by $19.6 billion on a net present. The semiconductor (chip) shortage was spurred by chip manufacturers overseas who pivoted toward consumer electronics during the worst of the pandemic as truck and auto sales swooned. Company spokesperson Julie Westermann in an email to S&P Global Market Intelligence confirmed the layoffs, which were first reported by the Richmond Times-Dispatch. Genworth Mortgage has 525 employees in the U.S. with around 300 working in Raleigh, according to securities filings. On October 28, 2021, Genworth Financial, Inc. announced that Ward E. Bobitz will resign as Executive Vice President and General Counsel, effective December 31, 2021, but will remain employed with the Company in an advisory role through June 30, 2022 to ensure a smooth transition to a new General Counsel. Employee Giving Genworth is committed to reducing the impacts on the environment associated with our business activities and to implementing best practices to support environmental sustainability. RICHMOND, Va. (WRIC) Richmond-based insurance company Genworth Financial is laying off 95 employees, effective March 27. 0. Upon Mr. Bobitz?s resignation, it is expected that Gregory S. Karawan will be appointed Executive Vice President and General Counsel. Genworth Financial Layoffs August 26, 2022 by Admin In March 2019, the company revealed plans to cut nearly 80 jobs including 35 operation jobs in Lynchburg and 21 job cuts at its corporate headquarters in Henrico County.Jan 21, 2021 Recent News and Discussions About Genworth Financial Layoffs Genworth Financial Inc. 0 Comments. https://newsadvance.com/business/local/genworth-financial-a-major-lynchburg-employer-notifying-employees-of-job-cuts/article_c1283eef-3ef4-5cbe-83b7-3129d711ff0f.html, Jan 21, 2021 Genworth Financial Inc. has started notifying some employees that their jobs are being eliminated after the companys planned merger with a , https://newsadvance.com/business/genworth-layoffs-announced-in-lynchburg-elsewhere/article_7f2deee6-cf51-11e2-96b4-0019bb30f31a.html, Genworth Financial announced Thursday it would lay off 39 people across multiple departments in Lynchburg along with 211 elsewhere in an effort to cut , https://www.nbc12.com/2021/01/21/genworth-begins-telling-some-workers-their-jobs-will-be-cut/, Jan 20, 2021 RICHMOND, Va. Insurance giant Genworth Financial has started notifying some of its workers that their jobs are being cut after its planned . RICHMOND, Va., Feb. 28, 2021 /PRNewswire/ -- Genworth Financial, Inc. (NYSE: GNW) today announced that its wholly owned subsidiaries Genworth Financial International . Breaking and Entering suspect arrested in Athens Co. REPORT: Kenworth to Lay Off 'At Least' 350 Workers at Ohio Plant, Kenworth to lay off at least 350 workers as hundreds of semis sit idle Truckinpreneur, August Class 8 truck bookings rose as manufacturers selectively accepted orders Truckinpreneur, August Class 8 truck bookings rose as manufacturers selectively accepted orders - FreightWaves, August Class 8 Truck Bookings Rose As Manufacturers Selectively Accepted Orders - STOCKOMICS, August Class 8 Truck Bookings Rose As Manufacturers Selectively Accepted Orders - News Portal by AfricaX, August Class 8 truck bookings rose as manufacturers selectively accepted orders - Gieda Transportu, August Class 8 Truck Bookings Rose As Manufacturers Selectively Accepted Orders, August Class 8 Truck Bookings Rose As Manufacturers Selectively Accepted Orders - Acropreneur, August Class 8 Truck Bookings Rose As Manufacturers Selectively Accepted Orders - Gur Times, August Class 8 Truck Bookings Rose As Manufacturers Selectively Accepted Orders Market Trading Essentials, August Class 8 truck bookings soared as manufacturers selectively accepted orders, Elementor #379 - National Association of Independent Freight Dispatchers. The affirmations also consider the April 6, 2021 announcement that the Genworth life companies' parent, Genworth Financial, Inc. (Genworth), had terminated its merger agreement with China Oceanwide Holdings Group Co., Ltd. (Oceanwide). China Oceanwide agreed in October 2016 to acquire Genworth for $2.7 billion, or $5.43 per share. The company didnt say how many workers would be eliminated, or when the cuts would occur. Several hundred Kenworth trucks have already been manufactured and sit idle on land at the Ross County Fairgrounds. On October 28, 2021, the Company also announced that Pamela M. Harrison will resign as Executive Vice President and Chief Human Resources Officer, effective December 31, 2021, but will remain with the Company through that date to ensure a smooth transition to a new Chief Human Resources Officer. A Retired bus driver for Western Pike Local Schools, BREAKING: Rollover Crash in Ross County, One Person Leaves Scene as Law Enforcement Arrives, Ross County Paint Valley Schools Field House Damaged in Severe Weather Storm, Ross County Two People Cited After Vehicle Crash, Circleville Man Shot and Killed at Sheetz Gas Station in Columbus. The average new-hire at Kenworth takes home approximately $2,600 a month, according to paystubs. RICHMOND, Va.-- ( BUSINESS WIRE )--Genworth Financial, Inc. (NYSE: GNW) today reported results for the quarter ended December 31, 2021. Feb 3, 2021 Richmond-based insurance company Genworth Financial is laying off 95 employees, effective March 27. 2021 Annual Report (PDF 9.70 MB) 2020: Annual Report. Enjoy unlimited articles at one of our lowest prices ever. The unit inked $370 million in net income for 2020. Genworth begins telling some workers their jobs will be cut January 20, 2021 RICHMOND, Va. (AP) Virginia-based insurance giant Genworth Financial has begun notifying some of its workers that their jobs are being cut after a proposed merger with a China-based investment firm was delayed. February 01, 2022 04:45 PM Eastern Standard Time. Genworth has thousand of employees in Virginia, mainly in the Richmond and Lynchburg areas. RICHMOND, Va., Sept. 20, 2021 /PRNewswire/ -- Genworth Financial, Inc. (NYSE: GNW) today announced that it has successfully completed the initial public offering (IPO) of . /marketintelligence/en/news-insights/latest-news-headlines/genworth-announces-job-cuts-in-wake-of-stalled-merger-62203732 If there are 350 people making an average of $50,000, that is 350, multiplied by 50,000 multiplied by 2%, equals $350,000 loss over the course of a year.. Genworth Financial Inc. May 27, 2016 Feb 16, 2022 Finance Manager, Richmond , VA . Its life insurance business posted a fourth-quarter 2015 net operating loss of $173 million, compared with income of $1 million in 2014, and . Genworth Financial and China Oceanwide Holdings Group Co. can't seem to put the finishing touches on their agreement for Oceanworth to buy Genworth, a $2.7 billion cash deal that was . There was a problem saving your notification. GMA recorded a combined ratio of 175% in 2020 (2019: 86%) and a net loss of AUD108 million . genworth layoffs 2021 +1 (760) 205-9936. ROSS - Kenworth has been working hard to keep employees working since the chip shortage has caused the company to park semis in an effort to keep but employees and the company moving forward. 2021: Annual Report. Both white collar & , https://www.wric.com/business/genworth-laying-off-95-richmond-area-employees/. Genworth Financial, Inc. (NYSE: GNW) today reported results for the quarter ended June 30, 2021. Save my name, email, and website in this browser for the next time I comment. Subscribe to our Daily Headlines newsletter. We will continue to sell group long term care insurance through our traditional channels, Westermann said. Some of them contacted the Guardian asking how they could apply for unemployment, or if they were qualified for the benefits. 500 of the factorys 1,600 workers were impacted, but many were recalled a few months later. According to employees, the layoffs at the factory known for making semi trucks will impact anyone hired since April 2020; the factory is the second largest employer in Ross County. Newer employees who were not familiar with the layoff process were frantic for answers on Thursday. On the local level, government will hurt from a decrease in tax revenues. Categories . The . RICHMOND, Va.-- (BUSINESS WIRE)-- Genworth Financial, Inc. (NYSE: GNW) today reported results for the quarter ended December 31, 2021. 08/27/2021. PACCAR said the trucks in Ross County, numbering in the hundreds, will sit parked until the parts become available. Layoffs TheLayoff.com, Genworth laying off 95 Richmond-area employees WRIC, Working at Genworth: 479 Reviews | Indeed.com, Genworth announces Lynchburg layoffs 105.9 WLNI-FM, Genworth announces job cuts in wake of stalled merger, Genworth layoffs announced in Lynchburg, elsewhere | Business , Genworth Financial notifies workers about job cuts WTVR.com, Genworth Financial cutting 95 jobs from its Henrico County , Can You Be Laid Off While On Medical Leave, Can A Company Find Out If You Were Laid Off, Can You Say You Were Laid Off Instead Of Fired, Can You Go On Disability After Being Laid Off, Can You Be Laid Off While On Short-Term Disability. palmetto high school basketball tickets; daniel galt west wing. This rating reflects the overall rating of Genworth and is not affected by , https://legacy.film/tq0da/genworth-layoffs-2021, +. (renews at {{format_dollars}}{{start_price}}{{format_cents}}/month + tax). CHILLICOTHE, Ohio Widespread layoffs have been issued at Kenworth in Chillicothe. This is a gigantic, gigantic issue.. Earlier this month, United States President Joe Biden answered a question from the Guardian regarding the chip shortage. https://www.thelayoff.com/genworth-financial, Layoffs tomorrow 2/5. The firm was founded as The Life Insurance Company of Virginia in 1871. No one cared when it was just the American worker getting screwed, Congressman Tim Ryan (D-Youngstown) said during a stop on Thursday in Athens County when alerted to the news of the layoffs. Impacted employees will receive at least a 60-day notice of the layoff and are eligible to receive transition benefits that include outplacement services and compensation based on years of service. Save my name, email, and website in this browser for the next time I comment. More than four years after it was first announced, Genworth Financial, Inc. (NYSE: GNW) today reported results for the quarter ended September 30, 2021. Genworth Financial Inc. is bracing for a dire economy -- 10 percent unemployment, an additional 13 percent drop in home prices and declines of 15 percent or more in the Can You Get Laid Off While On Maternity Leave, Can Laid Off Union Workers Collect Unemployment, How Long Does Insurance Last After Being Laid Off. Fewer jobs equal fewer taxable dollars . A spokeswoman for Genworth confirmed on Wednesday that the company is starting to notify employees of job reductions, the Richmond Times-Dispatch reported. The company announced significant headcount reductions by end of the week to get a $50 mm savings. All rights reserved. Jan 26, 2021 Insurance company Genworth Financial Inc. is laying off 95 employees from its corporate headquarters operations in Henrico County. The company didnt say how many workers would be eliminated, or when the cuts would occur.