Goldman Sachs has agreed to pay $215 million to settle a long-running class-action lawsuit that alleged widespread bias against women in both pay and promotions
The plaintiffs, former employees of the Wall Street bank, accused Goldman Sachs\n \n of systematically paying women less than men, and giving women weaker performance reviews that impeded their career growth. The lawsuit was among the highest-profile cases targeting Wall Street’s alleged unequal treatment of women in litigation against many banks that stretches back decades.
“After more than a decade of vigorous litigation, both parties have agreed to resolve this matter. We will continue to focus on our people, our clients, and our business,” said Jacqueline Arthur, Goldman Sachs’ global head of human capital management. As part of the settlement, Goldman Sachs will also hire independent experts to conduct additional analysis on performance evaluation and gender pay gaps, the statement added.
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