Pinterest pledges $ 50 million on reforms to resolve discrimination claims

Pinterest has pledged $ 50 million to reform its corporate culture and promote diversity in a deal to resolve allegations of discriminat...

Pinterest has pledged $ 50 million to reform its corporate culture and promote diversity in a deal to resolve allegations of discrimination against women and people of color, according to court documents and officials. statements by the complainants and the company.

The settlement was announced Wednesday by Seth Magaziner, the general treasurer of Rhode Island, who was acting on behalf of the Rhode Island Employee Retirement System and other Pinterest shareholders who had sued the company, known for its notice boards. colorful virtual.

Shareholders accused Pinterest’s board of failing to respond to a culture of discrimination and retaliation against women and people of color. By allowing the discrimination to continue, shareholders argued, the board of directors had not acted in the best interests of shareholders.

The allegations came to light when two black women on Pinterest’s public policy team, Banks Ifeoma Ozoma and Aerica Shimizu, publicly criticized the company’s treatment of employees, according to court documents.

Under the regulations, an audit committee of the board of directors will help oversee changes aimed at creating a level playing field for employees. The changes require a board member to act as a co-sponsor with the CEO on diversity, equity and inclusion initiatives, according to the complainant’s legal team.

The settlement also frees former employees from nondisclosure agreements and creates an external mediation office for employees and officials. audits that examine performance ratings, promotions and compensation by gender and racial categories.

The settlement was announced nearly a year after Pinterest agreed to pay $ 22.5 million to resolve a lawsuit for sex discrimination and reprisals by Fran├žoise Brougher, its former general manager of operations.

“We have pushed for these sweeping reforms to support Pinterest employees with a fair and safe workplace, and to strengthen the brand and company performance by ensuring that the values ​​of inclusion are at the center. heart of Pinterest’s identity, ”Magaziner said in a statement.

Pinterest said in a statement Wednesday that it had “reached a resolution with some shareholders who have raised concerns and filed derivative lawsuits regarding allegations made last year about the culture of the company.”

“Since that time, we have worked hard to ensure that our culture reflects our goals and values ​​and today’s resolution,” the company said.

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Newsrust - US Top News: Pinterest pledges $ 50 million on reforms to resolve discrimination claims
Pinterest pledges $ 50 million on reforms to resolve discrimination claims
Newsrust - US Top News
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