angelatc
10-05-2017, 05:56 PM
http://www.adweek.com/agencies/financial-firm-behind-fearless-girl-will-pay-5-million-for-allegedly-underpaying-women-and-minorities/
http://static.adweek.com/adweek.com-prod/wp-content/uploads/2017/10/fearless-girl-CONTENT-2017-840x460.png
State Street Corp., parent company of the investment firm behind Wall Street’s iconic Fearless Girl statue, today agreed to pay a combined $5 million to more than 300 women and 15 black employees who were paid less than their white, male counterparts, according to a federal audit.
According to today’s filing, the U.S. Department of Labor’s Office of Federal Contract Compliance Programs audited the bank starting in late 2012 based on data concerning the years 2010 and 2011. On March 31 of this year—the same month Fearless Girl debuted on Wall Street—the government first informed State Street of “corrective actions required.”
The audit concluded that, since “at least December 1, 2010,” the company had discriminated against women in senior-level roles like vp, svp and managing director by paying them lower base salaries, bonuses and total compensation than their male colleagues. The OFCCP’s analysis also found that State Street did the same to 15 black employees at the vice president level.
http://static.adweek.com/adweek.com-prod/wp-content/uploads/2017/10/fearless-girl-CONTENT-2017-840x460.png
State Street Corp., parent company of the investment firm behind Wall Street’s iconic Fearless Girl statue, today agreed to pay a combined $5 million to more than 300 women and 15 black employees who were paid less than their white, male counterparts, according to a federal audit.
According to today’s filing, the U.S. Department of Labor’s Office of Federal Contract Compliance Programs audited the bank starting in late 2012 based on data concerning the years 2010 and 2011. On March 31 of this year—the same month Fearless Girl debuted on Wall Street—the government first informed State Street of “corrective actions required.”
The audit concluded that, since “at least December 1, 2010,” the company had discriminated against women in senior-level roles like vp, svp and managing director by paying them lower base salaries, bonuses and total compensation than their male colleagues. The OFCCP’s analysis also found that State Street did the same to 15 black employees at the vice president level.