Archived News Release — Caution: Information may be out of date.

U.S. DEPARTMENT OF LABOR

ESA Press Release: PNC Bank Corp. To Pay $375,000 to Women Executives in Equal Opportunity Settlement [09/29/1999]

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PNC Bank Corp. of Pittsburgh today agreed with the U.S. Department of Labor to pay $375,000 to 31 women in management and professional positions. The agreement follows a glass ceiling review that revealed pay discrepancies between men and women in executive level positions.

PNC will pay $250,000 in back pay to 18 women and make base salary adjustments totaling $125,000 to 20 women. Seven of the women will get salary adjustment and back pay.

"A double-pane glass ceiling impedes women in corporate America," Secretary of Labor Alexis M. Herman said. "Through our corporate reviews we are beginning to crack the first pane, which restricts women from competing fairly for all jobs, including executive positions. Some companies are developing and promoting women to the senior level. But many women who squeeze through that crack have yet to break the second pane -- the barrier of disparate pay. We find that female executives routinely earn less than their male counterparts."

"This corporate management review of PNC is another example of the need to remove the barriers that prevent qualified women from achieving their full economic potential," said Shirley J. Wilcher, who heads the Labor Department's Office of Federal Contract Compliance Programs. "PNC worked promptly to resolve salary discrepancies and is working to prevent any recurrences."

PNC's agreement with the compliance office also specifies that the bank will review its compensation system semi-annually to identify any salary inequities and correct them.

The federal contract compliance office, part of the Labor Department's Employment Standards Administration, enforces Executive Order 11246 and other laws that prohibit employment discrimination by federal contractors. OFCCP monitors federal contractors to ensure that they provide equal employment opportunity without regard to race, gender, color, religion, national origin, disability or veteran status and meet affirmative action requirements.

PNC Bank Corp., with 1,124 employees at its corporate headquarters, is both a depository of federal funds and issues U.S. savings bonds.

Archived News Release — Caution: Information may be out of date.