Post by jakir12 on Feb 15, 2024 3:56:06 GMT -6
Ne of the world's leading investment banks, Goldman Sachs, has agreed to pay $215 million to settle a class-action lawsuit against it that accuses it of widespread bias against female employees when it comes to pay and promotions. The high-profile case of Goldman Sachs, sued for gender discrimination, sets a precedent for Corporate Social Responsibility (CSR) to address persistent issues of gender inequality and promote efforts to create a more equitable work environment. The resolution also avoids a trial that was scheduled for early June, according to Personal Today . History of abuse at Goldman Sachs Goldman Sachs was sued in 2010, when former executives Cristina Chen-Oster and Shanna accused the bank of denying them equal pay and promotions because of their gender.
As one of the original plaintiffs, I am proud to have supported this case without hesitation for the past almost 13 years,” said Shanna . The settlement provided in the Goldman Sachs defendant case is larger than other similar settlements. In 1997, Smith Barney, a US-based financial services company, paid around $150 million to settle the lawsuit known as “Boom-Boom Room,” which accused he Armenia Email List company of harassment and discrimination. Bank of America Corp and Citigroup Inc are also among the firms in Wall Street's financial epicenter that have settled gender discrimination lawsuits. These cases continue to highlight the persistence of issues of gender discrimination in the financial industry, but also in other workplaces.
Resolution of the Goldman case The settlement, which is subject to court approval, covers approximately 2,800 female associates and vice presidents employed in Goldman Sachs' investment banking, investment management and securities divisions. Camacho Moran, a partner at law firm Farrell Fritz, who was not involved in the Goldman case, said that following the Goldman lawsuit settlement, the banking giant's employers must "take a step back" to review their employment practices and make sure that are fair and equitable for all people. «My goal in this case has always been to support strong women on Wall Street. "I am proud that the result we achieved here promotes gender equality." Allison , one of the plaintiffs. The agreement also requires Goldman to hire independent experts to analyze gender pay disparities and performance evaluation processes for promotions from vice presidents to managing directors.
As one of the original plaintiffs, I am proud to have supported this case without hesitation for the past almost 13 years,” said Shanna . The settlement provided in the Goldman Sachs defendant case is larger than other similar settlements. In 1997, Smith Barney, a US-based financial services company, paid around $150 million to settle the lawsuit known as “Boom-Boom Room,” which accused he Armenia Email List company of harassment and discrimination. Bank of America Corp and Citigroup Inc are also among the firms in Wall Street's financial epicenter that have settled gender discrimination lawsuits. These cases continue to highlight the persistence of issues of gender discrimination in the financial industry, but also in other workplaces.
Resolution of the Goldman case The settlement, which is subject to court approval, covers approximately 2,800 female associates and vice presidents employed in Goldman Sachs' investment banking, investment management and securities divisions. Camacho Moran, a partner at law firm Farrell Fritz, who was not involved in the Goldman case, said that following the Goldman lawsuit settlement, the banking giant's employers must "take a step back" to review their employment practices and make sure that are fair and equitable for all people. «My goal in this case has always been to support strong women on Wall Street. "I am proud that the result we achieved here promotes gender equality." Allison , one of the plaintiffs. The agreement also requires Goldman to hire independent experts to analyze gender pay disparities and performance evaluation processes for promotions from vice presidents to managing directors.