CF Principal employees told to work from home permanently

CF Principal employees told to work from home permanently

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Principal Financial Group employees in Cedar Falls will now work from home — permanently.

The company confirmed in a statement late Thursday that employees in four of its U.S. service locations — Cedar Falls, Mason City, Spokane, Washington, and Grand Island, Nebraska — will transition to working remotely.

Principal’s integration of Wells Fargo’s Institutional Retirement & Trust business and the ongoing pandemic brought on the move, according to the company.

“The disruption of COVID-19 has tested and proven the ability of our service teams to maintain quality care while working remotely — reinforcing that great work can be done anywhere,” wrote Lonnetta Ragland, a spokesperson for Principal, in a statement.

The decision comes on the heels of the Des Moines-based company announcing that 23 percent of its staff globally will take anywhere from a 7.5% to 25% pay cut, according to a story in the Des Moines Register.

Principal employs 6,500 statewide.

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