Pinterest to spend $50 million to resolve discrimination allegations

Pinterest to spend $50 million to resolve discrimination allegations

Pinterest pledged $50 million to overhaul its corporate culture and to promote diversity as part of an effort to resolve discrimination allegations against women and people of color, according to court documents and statements from the plaintiffs and the company.

The settlement was announced on Wednesday by the general treasurer of Rhode Island, Seth Magaziner, who acts on behalf of the Employees’ Retirement System of Rhode Island and other Pinterest shareholders who sued the company known for its colorful virtual pinboards. The shareholders had accused Pinterest's board of directors of failing to respond to a culture of discrimination and retaliation against women and people of color. The shareholders argued that by failing to respond, the company allowed discrimination to continue the board failed to act in the best interests of stockholders.

The allegations against the company came to light when two Black female members Pinterest's public policy team  Ifeoma Ozoma and Aerica Shimizu Banks, publicly criticized the company’s treatment of employees, according to court documents. Under the settlement, an audit committee of the board will oversee changes and create equal opportunities for the employees. The changes also require that a board member act as a co-sponsor with the chief executive on diversity, equity, and inclusion initiatives, according to the plaintiff’s legal team. This settlement also releases former employees from non-disclosure agreements. 

Source: The New York Times 
Tags In
UP Gov

You might also like

For several reasons, the IT sector is appealing to job seekers. ...Read more

Despite the opposition of restaurant owners who worried it would raise customers' bills, California Governor Gavin Newsom on Monday signed a nation-leading law providing more than 500,000 fast food employees additional authority and rights. ...Read more

Demands for improved pay and workplace environments are coming from workers in California to New York. ...Read more

New graduates from institutions in Nigeria and other African nations have been made aware of job prospects by Microsoft. ...Read more

A mattress company is searching for a role where napping while working is not only acceptable but also required. 'Casper Sleepers' are being hired by Casper, a New York-based business established in 2014. ...Read more

Articles

From the peak of the pandemic in 2020 through the Great Resignation wave, unionization has been a ...Read more

When it comes to the talks of the unemployment rate due to COVID-19, experts compare it to the Grea ...Read more

Americans live paycheck to paycheck, making it difficult to leave their current employer. All thing ...Read more

Just as the candidates need the right jobs to secure their future, the companies also need the righ ...Read more