---
title: "CNN Money: These Big-Name Companies Had a Pretty Bad Year in 2016"
url: https://burnaze.com/article/5d156511-c466-41b9-bace-d0c5bf7741ae
source: "1851 Franchise"
original_url: https://1851franchise.com/cnn-money-these-big-name-companies-had-a-pretty-bad-year-in-2016-8895
category: "General"
published: 2016-12-28T18:13:26.000Z
modified: 2026-11-01T02:35:39.979Z
image: https://newimage.1851franchise.com/cdn-cgi/image/quality=85,format=webp,width=1280,height=720/story/featureImage/978c8dc8631660f4fd0c191b00e97f4b4751.jpg
---

# CNN Money: These Big-Name Companies Had a Pretty Bad Year in 2016

**TL;DR:** Several big-name companies, including Yahoo, Samsung, and Wells Fargo, had a difficult year in 2016 due to various issues and scandals. Yahoo, Samsung, and Wells Fargo faced significant challenges, including data breaches, product recalls, and unauthorized accounts.

*originally published in 1851 Franchise on 2016-12-28. [Read the original](https://1851franchise.com/cnn-money-these-big-name-companies-had-a-pretty-bad-year-in-2016-8895).*

## Story

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.

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.

## Entities

- 1851 Franchise (publication)
- General (sector)
- Twitter (company)
- Samsung (company)
- Wells Fargo (company)
- Yahoo (company)
- stock price (topic)
- data breaches (topic)
- job cuts (topic)
- product recall (topic)
- unauthorized accounts (topic)

---
Originally reported by 1851 Franchise (https://1851franchise.com/cnn-money-these-big-name-companies-had-a-pretty-bad-year-in-2016-8895). Summarized by Burnaze (https://burnaze.com/article/5d156511-c466-41b9-bace-d0c5bf7741ae).