Genworth laying off 200 Lynchburg employees

Genworth-FinancialFrom Genworth Financial: Unfortunately, our decision to suspend life insurance and fixed annuity sales means we will be losing valued employees across the U.S. Life Insurance division and headquarters, including Lynchburg. In Lynchburg, we will be losing about 200 employees. We began notifying impacted employees today, but most will receive at least 60 days’ paid notice of layoff. In addition, they are eligible to receive transition benefits that include outplacement services and the eligibility to receive compensation based on their years of services. We deeply regret the impact this will have on our employees and their families, and our top priority will be to ensure that they are treated with the utmost dignity and respect. We will continue to have almost 1,000 employees in Lynchburg. Mike Shadler, the Lynchburg Site Leader said “Genworth is proud of its longstanding ties to Lynchburg. We have a deep and rich history of being a good neighbor. Our Lynchburg-based operation remains an integral part of our business. Our employees are passionate about providing exceptional service to our policyholders and distributors. Our top priority now is ensuring that our affected employees are treated with dignity and respect.”

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