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Harvey Norman (ASX:HVN) share price falls as the retailer deletes Twitter

The Harvey Norman Twitter account went rogue over the weekend, blocking and replying to users criticising the company.
The post Harvey Norman (ASX:HVN) share price falls as the retailer deletes Twitter appeared first on The Motley Fool Australia. –

This article discusses mental health issues and suicide. If you or someone you care about needs support, please contact Lifeline 13 11 14 or Beyond Blue 1300 22 4636. In an emergency, call 000.

The Harvey Norman Holdings Limited (ASX: HVN) share price is falling today. This comes after the company’s Twitter account was deleted following its response to worker protests. At the time of writing, shares in Harvey Norman are trading for $5.26 – 1.13% lower than yesterday’s closing price.

The homewares retailer was met with protests outside many of its Australian stores on Friday. However, the worst backlash the company faced happened online.

Pix: Harvey Norman Protest https://t.co/qE8oHQVJSS pic.twitter.com/6RILBFyLcC

— AAP Photos (@aap_photos) May 28, 2021

Following the protests, the Harvey Norman Twitter account seemingly went rogue. It posted an insensitive reply to a former worker. Additionally, the account blocked hundreds of users who criticised the company.

As a result, the Harvey Norman Twitter account was removed from the platform roughly 4 hours ago.

Let’s take a closer look at the drama driving the Harvey Norman and how it is affecting the share price today.

Twitter storm

Until recently, Harvey Norman’s Twitter account, despite apparently being unmanned, was replying to and blocking Twitter users criticising the company.

The protests that spurred the Twitter controversy were ran by the Australian Council of Trade Unions (ACTU). and called for the minimum wage paid to Harvey Norman workers to be increased.

The protests followed Harvey Norman’s founder Gerry Harvey’s refusal to pay back $22 million in JobKeeper payments the company received during the COVID-19 pandemic.

Harvey Norman’s revenue increased by 25% over the 6 months ending 31 December 2020 when compared to the same period in 2019.

In a quickly deleted tweet published over the weekend, the Harvey Norman Twitter account replied to a former employee. The former employee claimed that working at Harvey Norman had been detrimental to their mental health. In response, the account posted with two emojis.

The former worker’s tweet stated: “working for [the] god forsaken company drove me to suicide in 6 months”.

Harvey Norman’s Twitter account responded to the former worker with a face-palm emoji and also a waving hand emoji. The combination of emojis is often used to show second-hand embarrassment and disinterest.

The reply was met with intense backlash from Twitter users. Though, many who criticised the reply were quickly blocked by Harvey Norman Australia.

Harvey Norman twitter account sharing some great savings with the three twitter users it hasn’t blocked

— The Chaser (@chaser) May 30, 2021

Consequently, Harvey Norman removed its Australian Twitter account from the platform around 4 hours ago.

Share price snapshot

Despite the recent bad press, the Harvey Norman share price has been performing well on the ASX lately.

The Harvey Norman share price has gained 10% year to date. It’s also 56% higher than it was this time last year.

The retailer has a market capitalisation of around $6.6 billion, with approximately 1.2 billion shares outstanding.

This article discusses mental health issues and suicide. If you or someone you care about needs support, please contact Lifeline 13 11 14 or Beyond Blue 1300 22 4636. In an emergency, call 000.

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The post Harvey Norman (ASX:HVN) share price falls as the retailer deletes Twitter appeared first on The Motley Fool Australia.

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