Gender Discrimination in Corporate America
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Code : GOV0014
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Region : Mynamar |
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Cases of Gender Discrimination In February 1997, eight women employees ofMerrill Lynch filed a sex discrimination suit against the company. Their allegations ranged fromdiscriminatory treatment in terms of training or support, to unequal pay and unfair dismissal. The first plaintiff in this lawsuitwasMarybethCremin, a broker atNorthbrook, Illinois office,who was fired because her boss allegedly “wished women could combine family and career but didn’t think it was possible.”12 By 1995, Cremin was generating around $400,000 revenue for the company per year andmanaging $60-$70millionworth of assets.When she had to take medical leave due to pregnancy complications, the company “changed her status and docked her benefits.”... (Un)Equal Representation? Equal Opportunities Commission (EOC) found that on an average, women earn 43% less than men, especially in London’s business district. In 1995, the biggest overall gender pay gap in Europe was in the UK, as women on an average received around 66%ofmen’s earnings. EOC adds that, in the UK, gender pay gap for full-time employees is 26%. Women constitute just 11%of the total boardmembers in Fortune 500 companies. In July 2002, the European Parliament called on theEuropeanCommission to updateall directives on equal treatmentformen andwomen on thebasis of pay, social security,working conditions, employment, combiningwork and family commitments and other aspects.The employment rate of women (54%) is still lower than that ofmen,while eight out of ten part-timeworkers arewomen... Merrill Lynch’s New Accounts Distribution Policy Merrill Lynch’s newpolicy for account-distribution contains six parameters for determining the eligibility of brokers to handle client accounts.Branchmanagers can choose any four of the six criteria for determining account allocations.Brokers are to be ranked as per this criteria and if theymeet two of these four parameters, they become eligible for walks-ins, call-ins, reassigned accounts andmanagerial referrals... |
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