In a sex discrimination lawsuit bought on behalf of women employees at Merrill Lynch, which is now owned by Bank of America, the bank has agreed to settle the suite for $39 million. As reported in Bloomberg, the suite alleges that Merrill Lynch discriminated against women in their respective positions in terms of compensation and business opportunities as compared to their male counterparts. It was also reported that in addition to the monetary settlement, Merrill Lynch would also be required to implement changes to its practices, which would be overseen by an independent monitor.
Sex or gender discrimination occurs whenever an employee or prospective employee is subject to different treatment due to their gender. An employer cannot stereotype you based on your gender or sex. Employers are required to treat men and women the same in all phases of the employment process regarding:
- Policies and practices
- Hiring
- Compensation
- Job training
- Layoffs
- Promotions
- Working conditions
- Benefits
- Other privileges
Often the terms “sex” and “gender” are interchangeable. However, sex discrimination refers to discrimination based on an individual’s biological identity as male or female while gender discrimination refers to discrimination based on characteristics of an individual that are culturally associated with masculinity or femininity. Gender discrimination is one of the oldest and most prevalent forms of workplace discrimination.
It is often subtle, but its impact is very serious. If you believe that you are being discriminated against at work because of your sex or gender, consult an attorney and protect your rights.