Thursday, July 10, 2014

Goldman Sachs Being Sued for Gender Discrimination

From Bloomberg Businessweek

“I believe that Goldman Sachs maintains a culture of bias against women. I have witnessed firsthand Goldman Sachs’ pervasive boys’ club culture. I also believe that having children has negatively affected my opportunities for advancement,” wrote one Lisa Albanese, a former vice president in the equities division who says that she was never promoted to the managing director level despite her status as a top performer. “In order to be successful at Goldman Sachs, I had to tolerate offensive language from male co-workers and a boys’ club atmosphere.”

Chen-Oster reports that she was sexually assaulted by a male co-worker at a staff dinner in 1997 and then discouraged from reporting it to human resources. Years later, after taking maternity leave, she says she found all her juiciest assignments handed off to male colleagues. “If Goldman Sachs were a better place for women to work and I thought that I would not be treated differently from men, I would seek a career there,” she writes.

“In my experience, entertaining clients at strip clubs was considered routine for Goldman in the U.S.,” writes Katalin Tischhauser, who worked on the convertible bond desk in London. She describes a visit to a conference in New Orleans in 2001 where her American colleagues took clients to a strip club and paid the strippers to entertain them. According to the complaint, the firm began discouraging new associates from taking clients to strip clubs in 2005 but did so with a nod and a wink, telling them that if they went, they should simply not expense it.

 

http://lawprofessors.typepad.com/gender_law/2014/07/goldman-sachs-being-sued-for-gender-discrimination-.html

Work/life, Workplace | Permalink

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