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  1. #1
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    More cuts at Principal

    Why the piecemeal approach? Can't be very good for morale of those still remaining. Principal Financial Cuts 40 Jobs - Money News Story - KCCI Des Moines



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    Re: More cuts at Principal

    'positions for continued strength and growth' = and makes us more attractive to potential buyers.



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    Re: More cuts at Principal

    Quote Originally Posted by Wx4Cy View Post
    'positions for continued strength and growth' = and makes us more attractive to potential buyers.
    Do you work there?



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    Re: More cuts at Principal

    Nope, not anymore. Just an opinion.



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    Re: More cuts at Principal

    morale is awesome.....if by awesome you mean crappy.


    Quote Originally Posted by JonDMiller View Post

    Dosry, You know what? I think I'll agree with you :)

    Quote Originally Posted by bos
    You sir are a legend.

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    Re: More cuts at Principal

    after cutting 600 jobs, they are now eligible for about 2 billion dollars in federal bailout funds. Cut 600 jobs and get rewarded by the government. I bet those 600 people are excited to have helped their former place of employment with a large sum of bailout money.



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    Re: More cuts at Principal

    Quote Originally Posted by iowast8fan View Post
    after cutting 600 jobs, they are now eligible for about 2 billion dollars in federal bailout funds. Cut 600 jobs and get rewarded by the government. I bet those 600 people are excited to have helped their former place of employment with a large sum of bailout money.
    I would like to hire approximately 600 CF posters for my business. The pay will not be competitive ($1/annum) and you will be fired after a few days on the job. However, you will also not be required to do much for work. After collecting my bailout funds I will be hosting a large tailgate this fall with free food for all former employees (nominal charge for beverages.)



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    Re: More cuts at Principal

    There must be a bigger story here with the extensive layoffs occurring every week. They are one of only six insurance companies qualified for TARP Trap money. The company must be in worst shape than we thought.
    Prudential Among Insurers Cleared for U.S. Bailout (Update2) - Bloomberg.com


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    Re: More cuts at Principal

    Quote Originally Posted by Wx4Cy View Post
    'positions for continued strength and growth' = and makes us more attractive to potential buyers.
    You don't know what you're talking about. Show me a company that has the money to buy Principal....



  10. #10
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    Re: More cuts at Principal

    Quote Originally Posted by iowast8fan View Post
    after cutting 600 jobs, they are now eligible for about 2 billion dollars in federal bailout funds. Cut 600 jobs and get rewarded by the government. I bet those 600 people are excited to have helped their former place of employment with a large sum of bailout money.
    600 out of 10,000 is a pretty small percentage when you compare to others in their peer group...



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    Re: More cuts at Principal

    Quote Originally Posted by Wesley View Post
    There must be a bigger story here with the extensive layoffs occurring every week. They are one of only six insurance companies qualified for TARP Trap money. The company must be in worst shape than we thought.
    Prudential Among Insurers Cleared for U.S. Bailout (Update2) - Bloomberg.com
    40 people is an extensive layoff?



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    Re: More cuts at Principal

    Quote Originally Posted by dosry5 View Post
    morale is awesome.....if by awesome you mean crappy.
    Depends on which department you work in. I know of departments where morale is pretty good....



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    Re: More cuts at Principal

    Quote Originally Posted by mplscyclone View Post
    40 people is an extensive layoff?
    It's huge if your job was one of them.



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    Re: More cuts at Principal

    Quote Originally Posted by mplscyclone View Post
    40 people is an extensive layoff?
    Thought I heard 40 on the radio in Omaha. They must have said 600. Sorry. For Des Moines, those are high paying jobs, but obviously some investments have gone south for the company. Are they in the derivatives market?


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    Re: More cuts at Principal

    How long have you worked for Principal, mpls?

    I'm with the others that say I don't understand the gradual layoffs. I know some people that work there that are always in fear of losing their jobs. I'm really glad I don't have to deal with the anxiety they do.



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