Media File #21

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Goldman Sachs cops sex discrimination suit

16 Sept 2011, SMH

This article is talking about a sex discrimination law suit in New York where Goldman Sachs (global investment baking and security firm) was accused of gender discrimination against female employees. The main basis of the case is that Goldman gives its managers, (mainly men,) non-monitored power and authority to  decide who gets administrative support and training and assign accounts. Apparently this causes female employees to be poorly represented in management so as a result 14% are partners, 17% are managing directors and 29% are vice presidents. According to the complaint, "Goldman Sachs has intentionally implemented these company-wide policies and practices in order to pay their male employees more money than their female counterparts, and to promote them more frequently." This all relates the the employment topic in commerce particularly discrimination, it is a real life example of gender discrimination. The discrimination is in a way quite subtle and not direct so it shows that companies have to be very careful to make sure they are not discriminating against people because it can be easy not to realise they are doing it.