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Goldman Sachs spent over $12.5 million (€11.5 million) to settle sexist workplace allegations

A top executive at Goldman Sachs earned almost $12 million (€11.5 million) from her former employer due to charges of sexism in the workplace.

The investing behemoth settled the multimillion-dollar settlement with the former partner in 2020.

The news agency claims that she accused senior executives, including the CEO of Goldman Sachs, of making "vulgar and disrespectful" remarks about women. according to individuals with knowledge of the situation

The former partner described a leadership culture that favoured men, mistreated women, and compensated them less.

It is believed that the undisclosed payout is one of the largest of its sort on Wall Street. Apparently, the purpose of the complaint was to draw attention to an institutional issue at the lender, including salary discrepancies between male and female employees.

There were also more instances of "dismissive statements" made by other managers, the majority of which occurred in 2018 and 2019.

A spokesman for Goldman Sachs declined to reply when a media organisation requested a statement. The complainant likewise declined to comment and now works for a different company.

The complaint allegedly claimed that male executives had criticised the appearance of female employees at the company. Some bosses reportedly advised ladies on how to improve their appearance.

The former partner's lawsuit contradicts the former CEO's public commitments to increase gender diversity and inclusiveness at the bank. Improving diversity, he said the US Congress in 2019, was "central" to his time as CEO.

He took public efforts to ensure that at least 50 percent of new recruits were women, and the last partnership cohort included a record percentage of women.



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