Issues with the new Outlook.com Contacts experience

Is anyone else having serious issues with managing contacts in the new Outlook.com experience? When I look at my contacts on Outlook.com, my existing company contacts now show up as phone numbers or email addresses rather than company names. Additionally I can no longer successfully create a company contact from my iPhone.

I tried contacting support to report the issue, but the person I was connected with tried to tell me that I wasn’t using my phone correctly. LOL… I create a contact, save it, then it disappears within moments unless I provide a first or last name, rather than a company name.