Goldman Sachs to pay $215 million in gender discrimination settlement l GMA

to the massive gender discrimination settlement at one of America's biggest and most influential banks, Goldman Sachs, which is agreeing to pay hundreds of millions of dollars to former and current female employees, and Stephanie Ramos is here with the latest. Stephanie, this has been going on for a while, a long discussion over this for the last decade. Good morning. Good morning, Rebecca. Absolutely. This morning, investment banking giant Goldman Sachs has agreed to pay $215 million to settle a class action lawsuit, which alleged widespread bias against women, adversely affecting both their pay and their growth at the company. Now, the plaintiffs, roughly 2,800 former associates and vice presidents, accused Goldman of paying women less than men and giving women weaker performance reviews.

As part of the settlement, Goldman Sachs will hire independent experts to conduct additional analysis on performance evaluation and gender pay gap. Goldman Sachs put out a statement saying, after more than a decade of vigorous litigation, both parties have agreed to resolve this matter. We will continue to focus on our people, our clients, and our business. The lawyers for the plaintiff said they believe the settlement provides substantial certain recoveries for all class members and advances gender equity at Goldman. Now, this settlement means the parties will avoid going to federal court next month, Rebecca. Significant settlement and a big change for that industry. All right, Stephanie, thank you.

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