Citi, lone bank to detail pay by gender, starts to close the gap [Business News Network (BNN) Energy & Resources (Canada)]
Citigroup, Inc. (C)
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Source: Business News Network
Citi, lone bank to detail pay by gender, starts to close the gap Citigroup Inc. has narrowed the pay gap between men and women in its global workforce in the last year, the company said. Female employees now make 27 per cent less than men do, an improvement from 29 per cent a year ago, according to a memo to employees from Sara Wechter, the bank’s head of human resources. The company also found that, among its U.S. employees, people of color now earn 6 per cent less than their white colleagues, an improvement from 7 per cent a year ago. “We have much more work to do,” Wechter said in the memo. “Our work to address both measures is continuous and the pace of change is likely to vary from year to year.” While many of its major competitors have offered “adjusted” pay gap analyses in response to shareholders and U.K. regulators, Citigroup is one of the few major U.S. companies to offer such a blunt disclosure, which measures median total compensation. The “adjusted” pay gap analysis compa
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