Are Women of Wall Street Being Disproportionately Laid Off?

Money thrown away This month, Forbes magazine writes about the number of sexual discrimination class action suits that are piling up against banks ranging from Citigroup, Merrill Lynch and Bank of America over the last year – as massive redundancies have been rolling out.  The article compares what is happening now to the class action suits of the 1990's: "This time the offenses are not the boorish behavior and outright harassment that gave rise to a total $400 million in industry settlements but something more subtle: making women bear a disproportionate share of the layoffs. In the worst financial crash since the Depression, financial services and insurance firms have cut 260,000 jobs. Seventy-two percent of the missing workers laid off have been women, even though they constituted 64% of employment before the crash began. As one plaintiff, Wan Li, bluntly puts it in a separate suit against Citigroup, which has been settled: Women "are unfairly selected for layoff over male employees with lesser merit or qualifications because of their gender."

Related Posts Plugin for WordPress, Blogger...