Franchise News
CNN Money: These Big-Name Companies Had a Pretty Bad Year in 2016
2016 was a tumultuous year on many fronts—but for these eight companies especially, here’s hoping 2017 gets a little better.
1. Yahoo!
Yahoo started the year by axing 15 percent of its workforce. The struggling tech firm then admitted it had previously suffered from two massive data breaches, both of which affected more than one billion of its users.
2. Samsung
Samsung’s problems started when it had to recall millions of Galaxy Note 7 smartphones after the high-end devices started bursting into flames. Then, Samsung proceeded to screw up the recall by replacing the defective phones with a product that was also prone to catching fire.
3. Wells Fargo
Wells Fargo made headlines in September when it fired 5,300 employees who had secretly created as many as two million unauthorized accounts. CEO John Stumpf was eventually forced to step down from his role.
4. Twitter
At the beginning of 2016, Twitter’s stock price plummeted after thousands of users closed their accounts. Twitter responded by cutting hundreds of jobs and killing its video app, Vine. Throughout the year, Twitter also had to suspend co-founder Jack Dorsey’s account and lost more top executives, including longtime CTO Adam Messinger.
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About the Author
Nick Powills
FollowNick Powills, CFE, founded No Limit Agency in 2008 and serves as Chief Brand Strategist for the Chicago-based firm. No Limit is a full-service communications agency that establishes and elevates brands by bridging Public Relations, Social Media, Marketing, Advertising, Digital, and a lot of creativity, to best strategize well-rounded and successful campaigns for 50+ global franchise brands. By presenting visionary ideas and building real relationships, No Limit is able to create effective media branding strategies to help companies grow. Nick currently leads a staff of writers, media strategists, designers, social media experts and digital producers in an office think-tank where brands are humanized for strong, compelling media stories. Prior to starting No Limit at the age of 27, Nick spent four years working at a franchise PR agency where he mastered the art of building rapport with media outlets and creating newsworthy pitches for earned media placements. He holds a Bachelor of Journalism from Drake University in Iowa.
