Goldman denies gender bias and tolerating a boys club atmosphere

Lloyd Fonzie Blankfein

Goldman Sachs denied gender bias in compensation and tolerating a 'boys’ club' atmosphere of excessive drinking and strip-club trips as it sought to quash a bid to unite female associates and vice presidents in a class action for discrimination.

Bloomberg News reports that Goldman Sachs rejected claims by former employees Cristina Chen-Oster and Shanna Orlich, opposing their court request to expand a lawsuit to represent more than 2,300 current and former female associates and vice presidents who worked at Goldman Sachs in the past decade.

'To be clear: Goldman Sachs does not tolerate discrimination of any kind', the firm said in papers filed July 25 in Manhattan federal court.

Chen-Oster and Orlich, who sued in 2010, claim they have expert statistical analyses that showed a pattern of discrimination against women in earnings and promotions. They alleged that the bank tolerated a work environment where women are treated as “second-class employees.”

To access the complete Bloomberg News article hit the link below:

Goldman Sachs Denies Ex-Employee Claims of Sex Bias

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