RICHMOND, Va. (AP) — Insurance company Genworth Financial Inc. is eliminating about 400 positions as part of a plan to improve the performance of its businesses.

In January Genworth announced a reorganization that it said would reduce financial risks at its mortgage insurance business and put that unit under a newly created parent company.

Genworth said Thursday that the jobs being eliminated include 150 open spots that won't be filled. It will also trim related information technology and program spending. The moves are expected to result in about $80 million to $90 million pretax in annual expense savings.

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