Company Behind “Fearless Girl” Forced To Pay $6.4 Million For Underpaying Women

Company Behind “Fearless Girl” Forced To Pay $6.4 Million For Underpaying Women

The US company that financed the “Fearless Girl” statue outside of New York’s Wall Street has today been fined $US5 million ($A6.4 million) for underpaying its female and black workforce.

State Street Corp has been ordered by the US Department of Labor’s Office to pay 300 female and 15 black employees the money after an investigation found they were paid less than their white, male counterparts back in 2010 and 2011.

Despite being ordered to pay the money, State Street Corp has denied the claims.

Screen Shot 2017-10-06 at 10.00.15 am

The “Fearless Girl” statue garnered global attention after it was placed next to, and stared down, Wall Street’s famous Charging Bull.

The 1.3 metre bronze statue was designed by artist Kirsten Visbal and was commissioned by State Street Corp to advertise index funds which comprised gender-diverse companies that have a higher percentage of women among their senior leadership. The plaque below the statue read, “Know the power of women in leadership. SHE makes a difference.”

The concept was devised by McCann New York and was unveiled on International Women’s Day.

It has been reported that the temporary statue secured State Street Corp $US7.4 million in free advertising while it also went onto win four Grand Prixs at this year’s Cannes Lions.

Please login with linkedin to comment

    Latest comments
  • Bradley Stock 1 year ago

    Oh that’s gold! Alright the statue is made of bronze, but the irony is 24ct gold.

Fearless Girl

Latest News

MCN Announces Key Exec Appointments & Unveils New Brand
  • Marketing
  • Media

MCN Announces Key Exec Appointments & Unveils New Brand

Multi Channel Network (MCN) has announced four key executive appointments to lead its new, transformed organisational structure. Nick Young, MCN’s national sales director, has been promoted to chief sales officer, responsible for sales and revenue growth for all MCN divisions (TV, digital, mobile, sport and digital out of home). MCN’s chief commercial and corporate development officer, […]

Luminoso Launches Revolutionary Business Model
  • Media

Luminoso Launches Revolutionary Business Model

Marketing, technology and creative recruitment firm Luminoso is disrupting the recruitment industry with the launch of a new business model that puts its customers’ interests above short-term revenue. Under the new business model, Luminoso will no longer bill its clients on the first day a successful candidate starts work. Instead, it will share the risk […]