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State Street Corporation Underpaid Women, Feds Say of 'Fearless Girl' Firm

Image: State Street Corporation Underpaid Women, Feds Say of 'Fearless Girl' Firm

The "Fearless Girl" statue faces Wall Street's charging bull statue, Wednesday, March 8, 2017, in New York. The statue was installed by investment firm State Street Global Advisors to highlight efforts to get more women on corporate boards. (AP Photo/Mark Lennihan)

By    |   Friday, 06 Oct 2017 03:26 PM

State Street Corporation, which put up the “Fearless Girl” statue on Wall Street to promote gender equality, underpaid women at the firm, according to a federal audit.

The financial company agreed this week to pay more than $5 million to over 300 women and 15 black employees after a U.S. Department of Labor Office of Federal Contract Compliance audit showed the workers were paid less than white male counterparts, according to the New York Post.

The audit findings and settlement agreement were filed in Boston on Wednesday. The alleged discrimination dated back to 2010 and included executive positions like senior vice president and managing director.

State Street denied the allegations in a statement despite agreeing to the settlement.

“While we disagreed with the OFCCP’s analysis and findings, we have cooperated fully with them, and made a decision to bring this six-year-old matter to resolution and move forward,” the statement read, the Post reported.

The audit has been going on since 2012, the agreement stated, according to The New York Times.

State Street installed the “Fearless Girl” statue opposite Wall Street's iconic “Charging Bull” in March to memorialize International Women’s Day, and is expected to leave it there until the next International Women’s Day in March 2018.

Twitter could not resist pointing out the irony and inconsistency of State Street’s actions.

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State Street Corporation, which put up the "Fearless Girl" statue on Wall Street to promote gender equality, underpaid women at the firm, according to a federal audit.
state street corporation, underpaid, women, fearless girl
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2017-26-06
Friday, 06 Oct 2017 03:26 PM
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