Quikr Stung By Rs 20 Cr Employee Fraud; Fires 2000 Employees Pan-India
Classified startup Quikr is in trouble: After employees executed a daring Rs 20 crore fraud right under their nose, the company has unleashed a layoff spree.
Around 2000 employees have been fired, as an aftermath of this employee fraud.
Which employes are getting fired? And how did this scam happen?
Keep reading to find out.
Quikr Stung By Rs 20 Crore Employee Fraud
Just 3 employees from Quikr executed a massive fraud, wherein the company lost Rs 20 crore. These employees created fictitious clients, and scooped out commissions worth Rs 20 crore from Quikr.
Complaints have been filed against these three employees: accounts manager Rakesh Kumar, area manager Rajat Goyal and zonal manager Natasha Sipani, and investigation is on.
As per reports, the scam took place across their real estate vertical, and vehicles department.
Recently, on December 4th, Quikr received a cash infusion of Rs 179 crore from their holding company Quikr Mauritius Holdings, and it seems that this was done as a result of the employee fraud.
Quikr has denied any fraud, but have described it as ‘certain anomalies’.
In a statement, Quikr said, “Certain anomalies have come to our notice in our PG transaction business involving our employees and we are working with external parties for legal action against all the parties involved. We may not be able to disclose more information as it may hamper the ongoing investigation.”
2000 Employees Fired Pan-India
Meanwhile, Inc42 reports that as an aftermath of this employee scam, Quikr has fired upto 2000 employees.
These employees have been fired from cars and bikes, jobs, Quikr Realty and Quikr homes, the verticals which were severely impacted due to the employee fraud.
While Bengaluru team has been slashed from 2700 to 1500; Pune team is now just 32, slashed from 170.
Similar reports from employee terminations have also been reported from Delhi and Mumbai.
It seems that several team members from Quikr Realty and Quikr’s car and bikes teams were involved in the scam, and more terminations are now expected.
We will keep you updated, as more details come in.