Company Expects Losses Of $150 Million For 2018

Drone giant DJI is has investigated more than 40 employees possibly involved in unspecified "corruption" at the company, and has handed several of those cases over to authorities, according to a report from Reuters.

In a statement posted on its website, DJI said "DJI holds our employees to strict ethical standards and takes any violation of our code of conduct very seriously. During a recent investigation, DJI itself found some employees inflated the cost of parts and materials for certain products for personal financial gain, which DJI estimates could have cost the company up to RMB 1 billion (approx. $150 million). However, DJI did not incur a full year loss in 2018.

"DJI took swift action to address this issue, dismissed a number of employees who violated company policies, and contacted law enforcement officials. We continue to investigate the situation and are cooperating fully with law enforcement’s investigation.

"These actions do not represent DJI, our culture, or our 14,000 employees, who work hard every day to serve customers and develop cutting-edge technologies. We are taking steps to strengthen internal controls and have established new channels for employees to submit confidential and anonymous reports relating to any violations of the company’s workplace conduct policies."

(Source: DJI news release and a cited. Image from file)

FMI: www.dji.com, Source report