If your brand is hated by the general public it doesn’t bode well for business. 24/7 Wall St recently revealed the list of the top ten most hated companies in America for 2013.
Most of the companies landed on the list because customers were frustrated with poor service, employees were angry about horrible working conditions or low salaries, and lastly, shareholders were upset over poor returns. Of course, each of these failures often lead to another.
Take McDonald’s (top of the list) and Walmart. Customers were so riled up over poor customer service, many of them sided with workers protesting low pay. Massive job cuts also result to poor worker morale. “Some of the most-hated companies have significantly reduced their workforces. BlackBerry, for one, has cut a third of its headcount as competitors Apple and Samsung have taken most of its market share,” reports The Huffington Post.
Poor products also caused a customer dissatisfaction. BlackBerry flopped with the Q10 and Z10 smartphones, which were launched in a last-ditch effort to recoup some of the smartphone market. And it seems no one liked JC Penney’s new store layout and pricing. Once it turned off customers, the investors complained.
And actually the stocks of many of the most-hated companies posted double-digit percentage drops in the past year, notes HuffPo.