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Goldman accused of being 'boys club'

Wednesday, July 02 12:42:08

Two former female employees of Goldman Sachs who have accused the bank of gender discrimination, saying they were treated like "bimbos" are seeking class action status for their case.

They accuse Goldman of operating a "boy's club" that included bouts of binge drinking and trips to strip clubs.

If class action is granted, the two former employees will be able to press the case on behalf of all female associates and vice-presidents in the company's investment bank, investment management and securities divisions.

Cristina Chen-Oster, a former vice-president and Shanna Orlich, a former associate, filed their suit in 2010.

In the lawsuit, filed in 2010, the women seek unspecified damages and an order requiring Goldman Sachs to fix the alleged gender bias at the firm.

Female vice presidents earned 21 per cent less than men and female associates made 8 per cent less, the former employees claimed. About 23 per cent fewer female vice presidents were promoted to managing director of the New York-based bank relative to their male counterparts, they said.

Goldman Sachs has denied the women's claims and is fighting the case.

The case is In re: Chen-Oster vs. Goldman Sachs and Co, 10-06950, U.S. District Court, Southern District of New York.