Childs, 22, still had two years remaining on his rookie contract, which included base salaries $570,000 (2014) and $660,000 (2015).
Minnesota used a fourth round pick on him back in 2012, however, he suffered multiple patellar tendon tears, which left his future in question.
Guion, 26, still has one year remaining on his three-year, $9 million contract that incldued $2.5 million guaranteed. His base salary for the 2014 season is $3.95 million to go along with a cap figure of $4.3 million.
- The Vikings would save $4 million by releasing Guion, according to the OverTheCap.com.
Last year, he totaled 21 tackles, one sack, a forced fumble and a recovery over the course of 13 games.