Richmond, Va.-based Genworth Financial notified 85 employees this week that their positions were being eliminated, and the financial services company estimates that 27 of them will not find a job elsewhere with the company.

Genworth spokesman Al Orendorff told IFAwebnews.com that the 85 employees at the company’s Henrico County facility were notified of the cuts, the result of its moving of some functions of its annuity business to its Lynchburg, Va., office.

“We are shifting resources as part of an ongoing review of Genworth’s business practices,” Orendorff said. “Like most companies, we are keeping our business strategies under constant review and this is part of that process.”

In January, Genworth eliminated 14% of its global workforce due to the nation’s economic climate, with the majority of job cuts occurring in Virginia. In Richmond, 400 employees lost their job and in Lynchburg, another 230 jobs were eliminated as part of an effort by the company to reduce operating expenses by $100 million to $150 million annually.

In the latest round of cuts, Orendorff confirmed that 43 of the jobs will be transferred to the company’s call center operations in Lynchburg, where employees will have the option of moving.

Orendorff said there are job openings in Lynchburg and nationwide through Genworth where the affected employees can apply, but the net loss of jobs will total 27.

“It’s expected that 27 will not find a fit [elsewhere in the company],” he said.