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The firm that brought us 'Fearless Girl' was underpaying women, U.S. government says
Source: Washington Post
The firm that brought us ‘Fearless Girl’ was underpaying women, U.S. government says
By Mary Hui October 6 at 1:21 AM
The financial services firms that introduced the world to “Fearless Girl” will pay $5 million to settle federal allegations that female executives were paid less than men in the same positions.
The agreement follows an audit by the Department of Labor in which investigators say that State Street Corporation has discriminated against more than 300 female and 15 black senior-level employees since Dec. 1, 2010, paying them less in base salary and bonus pay per year than white male colleagues, even “when legitimate factors affecting pay were taken into account.”
These individuals will receive back pay with interest from the settlement fund.
In an email statement, State Street said it disagreed with the agency’s findings but “made a decision to bring this six-year-old matter to resolution and move forward.” It did not admit wrongdoing in the agreement.
-snip-
By Mary Hui October 6 at 1:21 AM
The financial services firms that introduced the world to “Fearless Girl” will pay $5 million to settle federal allegations that female executives were paid less than men in the same positions.
The agreement follows an audit by the Department of Labor in which investigators say that State Street Corporation has discriminated against more than 300 female and 15 black senior-level employees since Dec. 1, 2010, paying them less in base salary and bonus pay per year than white male colleagues, even “when legitimate factors affecting pay were taken into account.”
These individuals will receive back pay with interest from the settlement fund.
In an email statement, State Street said it disagreed with the agency’s findings but “made a decision to bring this six-year-old matter to resolution and move forward.” It did not admit wrongdoing in the agreement.
-snip-
Read more: https://www.washingtonpost.com/news/business/wp/2017/10/06/the-bank-that-brought-us-fearless-girl-will-now-pay-millions-in-gender-pay-dispute/