Goldman Sachs, one of the world's largest investment banks, has agreed to pay $215 million to settle a gender discrimination lawsuit brought by a group of women who worked for the bank.
The lawsuit was filed in 2010 and alleged that Goldman Sachs discriminated against female employees in pay, promotions, and opportunities for advancement. The women claimed that they were paid less than their male counterparts and were passed over for promotions and leadership positions.
Under the terms of the settlement, Goldman Sachs will establish a fund to compensate women who were affected by the alleged discrimination. The bank will also make changes to its policies and practices to promote gender equity and eliminate bias.
Goldman Sachs has denied any wrongdoing in the case but said that it agreed to the settlement to avoid a lengthy legal battle. The bank has also said that it has made significant progress in promoting diversity and inclusion in its workforce in recent years.
The settlement is one of the largest ever paid in a gender discrimination case and is seen as a significant victory for the women who brought the lawsuit. It is also likely to increase pressure on other companies to address gender disparities in their own workforces.
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