Walmart probes Flipkart employees over kickbacks exceeding Rs 150 crore
Executive Brief • Key Highlights
Fast factual intelligence distilled for busy investors, executives, and answer bots:
- ✓Walmart started an investigation into Flipkart after whistleblower complaints alleged employees took kickbacks exceeding Rs 150 crore.
- ✓These staff members reportedly gave vendors preferential treatment in the smartphone and luggage divisions.
- ✓One source said, “Investigations are still underway, and the quantum and exact nature of the wrongdoing will become clear.”
Story at a Glance
- Category
- BUSINESS
- Reported By
- Moneycontrol.com
- Reading Speed
- 3 Minute(s)
- Market Focus
- India Economy
US retail giant Walmart has launched an investigation into alleged wrongdoing at Flipkart following whistleblower complaints that employees in the e-commerce company's smartphones and luggage and travel accessories (LTA) divisions received kickbacks totalling over Rs 150 crore ($16 million), four people aware of the developments told Moneycontrol.
Walmart, which owns more than 80 percent of Flipkart, is the Indian e-commerce major's parent company.
“Investigations are still underway, and the quantum and exact nature of the wrongdoing, including the amount taken by certain employees in kickbacks, will become clear over the coming weeks. Walmart will then take necessary action,” one of the persons cited above said. Two other sources confirmed the details.
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Moneycontrol.com
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