By Aoife Gorey
2012 saw a multitude of news stories in the corporate business world from Yahoo’s leadership challenges and Facebook’s IPO to plummeting stocks and growing tech giants. Unemployment dropped to its lowest rate in four years reaching 7.8 percent. Regardless of industry, millions of organizations have faced their fair share of challenges in the past year. Some businesses remain favorable in the eyes of their employees and the public, others… not so much.
24/7 Wall St. website released their annual 10 most-hated companies list last week. Will you be surprised by the results? The website assessed the companies from all angles: the employees, shareholders, and customers.
1. The first place title-holder this year goes to JC Penney. The report attributes this status to major management mistakes over the last few years, beginning with the introduction of former Apple chief Ron Johnson and a drop in sales by 20%.
2. Dish Network Corp. takes second place, with employees stating that their experiences are as bad as those of their customers. A BusinessWeek article even titled them “The Meanest Company in America”.
3. After the failed acquisition of T-Mobile USA by AT&T Inc., T-Mobile now finds themselves stuck as the lesser of the four major phone networks. A recent MSN/Zogby annual poll ranked T-Mobile as one of the worst in customer service.
4. Facebook has been in and out of the news this year, after their initial IPO price of $35 plummeted in the stock market. Although the social network was named in Glassdoor’s 2012 Best Places to Work list by its employees, it seems that customers and shareholders do not share the same notions. Public opinion states that founder Zuckerberg did not help the matter by announcing that the company had the right to republish any photo in Instagram user’s accounts. Facebook buys Instagram for $1 billion.
5. Thousands of workers lost their jobs this past year under the ruling of Citigroup Inc. CEO Vikram Pandit, who was let go shortly after. Making matters worse, incoming CEO Michael Corbat inherited an angry employee base and stated that he planned to fire 11,000 additional employees. Citi was also unlucky enough to place in MSN Hall of Shame of the 10 worst companies in America for customer service.
Find out who the remaining 5 Most Hated Companies in America are here.
Last year, an NBC news article cited Apple as the most liked and inspiring company in the United States. All organizations face ups and downs, legalities and employee disputes in their lifetime, what is it that companies like Target and Johnson & Johnson are doing that the 10 Most Hated Companies are not? It seems that it is simply not enough to have a loyal customer base, satisfied employees or happy shareholders. It must be a combination of the three.
What do you think? Do you have experiences with any of the above organizations?