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Principal Layoffs - 3-10-09

Des Moines could be in some serious trouble if this keeps happening. Between CITI, Wells, and PFG you could lose a lot of decent paying jobs. Even Aviva is having issues in Europe, which I would think could be bad for those WDM jobs.

From what I've heard, Wells does a lot more smaller cuts so that there are no "Wells lays off 500" in the headlines.
 
Out by my employer, CITI just doubled the size of their new building this past year and I have yet to see many more cars there so I'm assuming they didn't "cut" as many jobs here as much as just didn't add the ones they originally planned on.

Wells is taking a lot of heat in the markets/press lately so I could see some big suffles coming there in the very near future.

I know several people that left my company to go to Aviva over the past 6-9 months and they may be regretting it soon.
 
dmclone said:
From what I've heard, Wells does a lot more smaller cuts so that there are no "Wells lays off 500" in the headlines.
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They actually cut far more contractor positions which they don't have to report to anyone. That's where a good chunk of their layoffs are occuring. Believe me, far more consultants are being shown the door than FTE's.
 
Jeremy said:
Out by my employer, CITI just doubled the size of their new building this past year and I have yet to see many more cars there so I'm assuming they didn't "cut" as many jobs here as much as just didn't add the ones they originally planned on.

Wells is taking a lot of heat in the markets/press lately so I could see some big suffles coming there in the very near future.

I know several people that left my company to go to Aviva over the past 6-9 months and they may be regretting it soon.
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CITI announced earnings for the first time in 2 years today. Hopefully there troubles are finally near an end.

I think wells is gonna get through it and rebound soon. Just might be some serious adversity for quite a few people in the short term. They'll have a large presence in DSM for anywhere in the foreseeable future I think.
 
vmbplayer said:
CITI announced earnings for the first time in 2 years today. Hopefully there troubles are finally near an end.

I think wells is gonna get through it and rebound soon. Just might be some serious adversity for quite a few people in the short term. They'll have a large presence in DSM for anywhere in the foreseeable future I think.
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I'm not pessimistic but we aren't thru it yet. It's still got a while.
 
CITI is showing signs of rebounding, but without a huge increase in investor trust, they're going to have a long and rocky road.
 
The job loss today is credible, it already happened.

Rumors of more cuts are an everyday fact at Principal. If I had a nickel for every rumor of a huge impending layoff I'd have my house paid off. Everyone seems to know someone with inside info. If you listen to the rumors everyday you'll just get bitter and sick and never get your job done. 550 a few months ago, 63 more today.....maybe more later, who knows?
 
There ya have it, not even a mention on KCCI or DMRag and we already have the leaked internal memo:laugh:
 
Re: Principal Lays Off 550

Bobber said:
I do an inventory of assests every year and I have some Principal Stock. A year ago it's value was $54 per share. On Sunday I looked it up and it was at $6.00 per share.:no:
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Sounds like a great time to buy!
 
I feel very blessed to have a job and to be able to provide for my family. Eventually, we’ll come out of this recession and hopefully more of us will go to work everyday being more productive and feeling thankful and happy to be there.
 
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PGreen ISU '92 said:
I feel very blessed to have a job and to be able to provide for my family. Eventually, we’ll come out of this recession and hopefully more of us will go to work everyday being more productive and feeling thankful and happy to be there.
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You mean when we're not on CF, right? :jimlad:
 
I don't really get why so many have this negative thing going for PFG. They aren't any different than most big businesses. One thing I appreciate about them is they've been cutting back in almost everything possible since last July. They announced cost cutting measures for this next year last summer as well.

How many people you know worked for a company that didn't hear or really change anything, then just mass laid off people? I know my mom did.

One thing I appreciate is they at least make an effort to do whatever they can before letting people go. They aren't redecorating offices or anything like that.

I am not going to defend everything they do, but I can def. think of many companies that are handling this whole economic situation a lot worse!
 
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