A California District Court has given preliminary approval to a proposed $16 million settlement by Manhattan financial firm Morgan Stanley with a group of black and Latino financial advisors in its global wealth-
Three California women initiated the lawsuit on behalf of 1,300 workers, claiming that white male branch managers steered business to white male brokers.
Without admitting wrongdoing, Morgan Stanley also agreed to provide diversity training to managers.
Note: Discrimination doesn’t have to be intentional. Conduct periodic audits of your hiring, firing, promotion and decisions to see whether they tend to favor one group over another.
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