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.
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.
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