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Goldman Sachs Slapped with A Penalty of $215 Million for Sexual Discrimination at Workplace

  • Posted on May 10, 2023
  • News
  • By Arijit Dutta
  • 471 Views
Goldman Sachs will pay $215m (£170.5m) to settle claims that it discriminated against women, offering female staff lower pay and fewer opportunities

Goldman Sachs, sexual discrimination:-

Goldman Sachs, a mega company in the field of management and investment banking working worldwide in many countries has found itself stuck in a heavily burdensome Lawsuit that has pulled the company into paying a huge penalty.

Details of Sexual Discrimination at Goldman Sachs

2800 female staff members of Goldman Sachs complained about receiving a salary about 20% lower than their male peers working with them in the same ranks. Women also complained about instances of sexual discrimination by seniors when male peers received a faster promotion than females.

Goldman Sachs to pay $215 mln to settle gender discrimination lawsuit: Report
Goldman Sachs to pay $215 mln to settle gender discrimination lawsuit: Report

After a 13-year-long legal battle between a few female workers and the company, Goldman Sachs was found guilty of sexual discrimination at the workplace and was imposed a fine of $215m (£170.5m).

Goldman Sachs' Defence

Goldman Sachs had denied all charges of sexual discrimination. In its defence, the company said that almost 30% of its working staff in senior positions like partners and managers were women and the company also looked forward to welcoming more women in such posts. The company stated that its aim is "ensuring a diverse and inclusive Workplace  for all our people". However, the decision of the court regarding the same discloses the actual environment within the Company.

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Arijit Dutta

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