CHARLESTON, W.Va. -- Brickstreet Insurance employees will offer buyout packages to as many as 50 employees, the company announced today.

"Since BrickStreet entered the competitive marketplace July 1, we have competed against some of the largest insurance companies in the industry and have been able to retain a significant market share," Brickstreet president and CEO Greg Burton said in a prepared statement.

"Our employees have done a spectacular job, but now with less market share and competing in an open market, we must turn our attention to employee levels that are appropriate to our share of the market."

The buyout packages will be either one year's salary or nine months of pay and six months of paid COBRA insurance coverage.  The company will also provide help with finding new employment.

Eligible employees have 45 days to make their decision, and Brickstreet will decide by the end of the year which buyouts will be accepted.

"Since BrickStreet entered the competitive marketplace July 1, we have competed against some of the largest insurance companies in the industry and have been able to retain a significant market share," Brickstreet president and CEO Greg Burton said in a prepared statement.

"Our employees have done a spectacular job, but now with less market share and competing in an open market, we must turn our attention to employee levels that are appropriate to our share of the market."

The buyout packages will be either one year's salary or nine months of pay and six months of paid COBRA insurance coverage.  The company will also provide help with finding new employment.

Eligible employees have 45 days to make their decision, and Brickstreet will decide by the end of the year which buyouts will be accepted.