Wall Street is known for helping men more than women and minority groups. Many big banks have names from the Morgan family, but few are led by women.
In the last few years, big banks promised to help women and minorities. They said they would spend money on hiring and promoting these groups.
Now, many banks are changing their plans. They are worried about the current U.S. government and its views on diversity and inclusion.
For example, Goldman Sachs recently said it will stop requiring companies to have women and minority group members on their boards. Some banks are also hiring fewer Black and Latino workers.
One bank, BNP Paribas, has also paused its events for International Women’s Day next month.
Banks are changing their plans quietly. This is not as clear as what we see in the tech industry where leaders have openly supported anti-diversity ideas.
Some banks began to make these changes long before the recent election. They opened programs for all candidates, not just minority groups.
Vocabulary List:
- Diversity /daɪˈvɜːr.sɪ.ti/ (noun): The condition of having different elements or qualities especially regarding representation of different groups.
- Inclusion /ɪnˈkluː.ʒən/ (noun): The act of including or the state of being included within a group or structure.
- Promoting /prəˈmoʊ.tɪŋ/ (verb): To support or actively encourage the progress or growth of something.
- Candidates /ˈkæn.dɪ.dɪts/ (noun): Persons who are nominated for a position or are applying for a job.
- Paused /pɔːzd/ (verb): To temporarily stop or interrupt an action or event.
- Members /ˈmɛm.bɚz/ (noun): Individuals who belong to a group or organization.
How much do you know?
Which group is known for receiving more help from Wall Street?
What did big banks promise to do for women and minorities in the last few years?
Which bank recently announced a change to stop requiring companies to have women and minority group members on their boards?
What has BNP Paribas done concerning events for International Women’s Day?
Why are banks changing their plans according to the text?
What kind of programs did some banks start opening before the recent election?
Most big banks are currently increasing their support for women and minority groups.
BNP Paribas is actively promoting International Women’s Day events next month.
Certain banks are hiring fewer Black and Latino workers based on the recent text information.
Leaders in the tech industry have openly supported anti-diversity ideas.
All banks have successfully implemented their promises to help women and minorities.
The recent election outcome has not influenced the changes in some banks’ diversity programs.
Wall Street is known for helping men more than women and groups.
Goldman Sachs recently announced it will stop requiring companies to have women and minority group members on their .
BNP Paribas has paused its events for International Women’s Day planned for next .
Some banks are hiring fewer Black and Latino workers, showing a decrease in diversity.
Banks are changing their plans silently, contrasting the tech industry where leaders openly supported ideas.
Some banks began opening programs for candidates long before the recent election.
