The decision to review the policy comes after a former employee in the bank's wealth management business complained he was being forced by his bosses to interview people for jobs that had already been promised to others, just to meet the "diverse slate" requirement
Wells Fargo is temporarily suspending a hiring policy that led some managers to conduct sham interviews of nonwhite and female candidates, following a report by The New York Times highlighting the practice, the bank’s chief executive, Charles W. Scharf, told employees in a letter Monday.
Instituted in 2020, the bank’s “diverse slate” policy stipulated that at least half the candidates interviewed for open positions paying $100,000 or more in annual salary needed to be “diverse” — a catchall term for racial minorities, women and members of other disadvantaged groups.
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