‘Boys’ club,’ ex-workers define Goldman Sachs

‘Boys’ club,’ ex-workers define Goldman Sachs

‘Boys’ club,’ ex-workers define Goldman Sachs

Goldman Sachs Tower in New Jersey is seen in this photo. The firm has been accused of fostering a ‘boys’ club’ environment.

Goldman Sachs Group  has been hit by a fresh wave of gender discrimination claims as a group of former employees filed court documents on July 1, claiming the Wall Street firm operates like a “boys’ club” and maintains a corporate culture “hostile to women.”

Goldman’s male employees routinely entertained clients at strip clubs, characterized female employees as “bimbos,” excluded their female co-workers from golfing outings, after-hours drinking and denied women promotions in favor of men who were less deserving of the positions, the female plaintiffs claim, International Business Times has reported. The website briefed seven claims on its report. It quoted former Goldman employee H. Cristina Chen-Oster, one of the plaintiffs in the suit, as saying about an alleged sexual assault that “I was afraid to report the assault to management due to fear that I would be retaliated against for speaking up.”

“I finally reported the assault because I felt uncomfortable working with the man who had assaulted me and wanted to work in another office. After I reported the sexual assault to my supervisor, I began to experience increased hostility and marginalization at work. Soon after I reported the incident, existing job duties and responsibilities were taken away from me. My desk was moved to the seat farthest from senior management, near empty chairs,” she reportedly said.


Another claim was that the company hired attractive women, but mocked their intelligence.
“More than 20 times, I heard male traders at Goldman Sachs say the female associates and vice presidents were hired for sales for their attractiveness and not their intelligence, and these women were ‘bimbos,’” Denise Shelley, a former Goldman vice president, was quoted as saying.
A long time claim regarding Goldman Sachs is about unequal payment.

“In my experience, Goldman Sachs maintains a culture where gender stereotypes are prevalent,” said Lisa Parisi, a former Goldman managing director. “For example, if male employees have children, they are considered heads of households who deserve higher pay. On the other hand, female employees are not considered heads of the household and therefore are not considered deserving comparable pay.” The claims included hiring escorts for a holiday party.

“In my experience, Goldman Sachs maintains a culture that is hostile to women,” ex-Goldman associate Shanna Orlich, said.

“For instance, in December 2007, a male managing director hired female escorts to attend my group’s holiday party. The escorts arrived wearing short black skirts, strapless tops, and Santa hats, and socialized with male guests during the event.”