Citi puts pay-equity analysis on hold amid cuts to its workforce
The megabank has paused its annual review of racial and gender pay gaps.
The megabank has paused its annual review of racial and gender pay gaps.
JPMorgan Chase, Bank of America, Goldman Sachs and Wells Fargo joined Citigroup in pledging to expand benefits to cover travel for out-of-state abortions. Smaller banks in blue states were more vocal, with one female CEO saying: “I stand in disbelief.”
The announcement came a day after Citigroup said it would mandate vaccines for many of its workers. Capital One also said it is delaying its office reopening.
Banks are struggling to hire and retain workers in a tight labor market. To stay competitive, they are making concessions on wages and remote work that likely would have been unnecessary before the pandemic.