Genworth Financial Inc. has told some of its employees that their positions have been eliminated, after the company's long-awaited merger with China Oceanwide Holdings Ltd. was put on hold indefinitely.

Company spokesperson Julie Westermann in an email to S&P Global Market Intelligence confirmed the layoffs, which were first reported by the Richmond Times-Dispatch. She did not reveal the number of positions that were eliminated.

"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.

Westermann provided no other details on the layoffs, "out of respect for our colleagues who are losing their jobs."

The move comes a couple of weeks after Genworth revealed that the "end date" of its merger agreement with China Oceanwide has not been extended. The deal, which originally was announced in October 2016, was expected to close by Dec. 31, 2020, but missed that date because of issues surrounding the completion of final steps.

In announcing the postponement of the merger, Genworth said its focus will be on implementing its contingency plan, which includes a possible partial IPO of its U.S. mortgage insurance business. The plan was initiated so that the company, among other things, could meet its near-term liabilities of approximately $1.0 billion of debt due in 2021.