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RICHMOND, Va. - Insurance giant Genworth Financial has started notifying some of its workers that their jobs are being cut after its planned merger with a China-based investment firm was delayed. 2019 Annual Report (PDF 9.83 . Pros. The unit inked $370 million in net income for 2020. We also expect national home prices to rise by 5% in 2021. Jan 26, 2021 Insurance company Genworth Financial Inc. is laying off 95 employees from its corporate headquarters operations in Henrico County. {{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. Sign up for our newsletter to keep reading. 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. Genworth to lay off about 80 employees, including 35 in Lynchburg. genworth layoffs 2021. Genworth to lay off about 80 employees, including 35 in Lynchburg "This is not something we take lightly and we are committed to providing affected colleagues with the utmost care, compassion and support during this transition," Westermann said in the email. the effect on the city is 2% of earnings during the period they are laid off. genworth layoffs 2021 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). According to the state, the maximum unemployment benefits amount a Kenworth employee can earn if they do not have any dependents and have weekly wages of over $886 during the base period, is $443. 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.'s corporate headquarters are shown in Henrico County. Genworth Financial Announces Fourth Quarter 2021 Results