Whistleblower says Walmart, eyeing Amazon, cheated on e-commerce


Are under a little bit of pressure in after hours trading after it gave a sales forecast in line with estimates meantime we are monitoring the earnings call currently underway and there are new comments on the qualcomm acquisition the company says that qualcomm was unique opportunity but does see potential candidates for acquisitions in the future walmart shares plunging thursday trade after a whistleblower claimed the retailer issued misleading ecommerce results and fired and executive who complained that the company was breaking the law under chief executive officer doug with millon walmart has invested billions to catch up with amazon e commerce for more details i want to bring in matthew boyle who covers big box retail for bloomberg so what is this whistle blower claiming happened this whistle blower who was fired from amazon in two thousand fourteen his job was basically to grow this marketplace business this is a business that i was on also runs where third party vendors will sell their goods and walmart we'll get a cut of the sales this gentleman is claiming that their improprieties in the business and it was sort of a growth at all costs mentality and so you know internal controls were overlooked and when he brought these issues to light he was at first ignored and then eventually fired hey saying they mislabeled products or third thirdparty vendors got lower commissions they didn't process returns they allowed a fensive items to stay on the site items like what like a trendy granny costume there you go a coffee mug with hitler's name on it i mean just sort of really offensive shady stuff that look this is marketplace you know you have these vendors selling all sorts of items but the broader point is at this marketplace for walmart has grown from only seven million items a couple years ago to seventy five million items now so you can say you know look things could get sort of overlooked amid all that growth but this whistle blowers is claiming that there was a sort of a persistent pattern of ignoring these issues and when he continued to bring it to light and brought it to the company's global ethics department he was then terminated what is this is saying they're going to vigorously defend themselves and they're saying these claims are coming from a disgruntled employee who was let go as part of a broader restructuring and walmart is right there there was a.

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