Genworth Financial Inc. has cut nearly 80 positions at two Virginia operations.
The move comes days after the Richmond-based company’s chairman and CEO, Michael D. Fraizer, resigned.
Genworth spokesman Tom Topinka told the Richmond Times-Dispatch that the cuts were fewer than 40 positions in Richmond and fewer than 30 in Lynchburg in the company’s life insurance and information technology units.
In a statement, Topinka said the changes are “designed to drive cost efficiencies” within its U.S. life insurance unit and move its technological capabilities “deeper within the business.”
Topics Virginia
Was this article valuable?
Here are more articles you may enjoy.
Nine-Month 2025 Results Show P/C Underwriting Gain Skyrocketed 
Insurance Issue Leaves Some Players Off World Baseball Classic Rosters 
Q4 Global Commercial Insurance Rates Drop 4%, in 6th Quarterly Decline: Marsh 
US Appeals Court Rejects Challenge to Trump’s Efforts to Ban DEI 
