Thread regarding Wells Fargo & Co. layoffs

' “While Wells Fargo strongly disputes the allegations, we believe that putting this matter behind us is in the best interest of all of our stakeholders,” company spokesman Peter Gilchrist said in a statement.' This is exactly why Wells Fargo will continue to have these types of lawsuits.

That explains the push for the last couple of years for everyone to take diversity training.

Wells Fargo must offer 66 jobs to female and African American applicants it rejected five years ago, now that the U.S. Labor Department found the bank discriminated against them.

The company in 2014 discriminated against more than 2,300 candidates to be online customer service representatives and phone bankers in three cities: Phoenix, Salt Lake City and Glen Allen, Va., the Labor Department announced Thursday. Wells Fargo must pay about $600,000 in back wages, benefits and interest to individuals, and it must offer jobs to original applicants as they open up.

The Labor Department’s statement didn’t detail the hiring issues, and the San Francisco bank didn’t admit liability. Wells Fargo agreed to revise its selection process and train hiring managers to eliminate the discriminatory practices.

“While Wells Fargo strongly disputes the allegations, we believe that putting this matter behind us is in the best interest of all of our stakeholders,” company spokesman Peter Gilchrist said in a statement. He said the settlement relates to practices in place five years ago that the company has since changed. “Wells Fargo values and promotes diversity and inclusion in every aspect of our business.”

Last month Wells Fargo selected a new chief executive as part of its efforts to move past years of scandals that have eroded its brand and heaped on legal costs. Charlie Scharf is set to start in the top job Monday.