Wells Fargo Ends Mandatory Arbitration For Future Employee Claims of Sexual Harassment
February 12 2020 - 1:38PM
Dow Jones News
By Michael Dabaie
Wells Fargo & Co. said effective immediately it will no
longer require arbitration for employees in connection with any
future sexual harassment claims.
The financial services company said it made the decision
following internal dialogue and feedback from various stakeholders,
including the proponents of a shareholder proposal.
Wells Fargo said Clean Yield Asset Management submitted a
shareholder proposal late last year that focused on mandatory
arbitration of workplace sexual harassment claims. Clean Yield has
since withdrawn the proposal, Wells Fargo said.
"Wells Fargo has zero tolerance for sexual harassment," David
Galloreese, head of human resources at Wells Fargo, wrote on the
company's website. "We believe that this is the appropriate change
to make at this time for our employees."
Write to Michael Dabaie at michael.dabaie@wsj.com
(END) Dow Jones Newswires
February 12, 2020 13:23 ET (18:23 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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