After a rough week, Intel used to open its pay information.
Stephen Shankland/CNET
Intel stated it’ll openly launch staff member pay information broken down by race and gender, as initially reported by Bloomberg on Thursday. The guaranteed disclosure follows a week of chaos at Intel, after the business consented to pay $5 million to settle staff member allegations of pay discrimination based upon race and gender. The settlement followed the chipmaker previously this year stating that it had closed its pay space.
This year, the Equal Employment Opportunity Commission will for the very first time need the very same sort of pay information from all business with more than 100 workers, though business will not be needed to openly reveal that information. Previously, as Bloomberg reported, the EEOC needed race and gender information, however not pay information.
“Although much progress has been made in the past 50 years, pay disparities continue to be a problem in the American workplace,” the EEOC stated in a post. The information will “encompass more than 63 million workers and will strengthen enforcement efforts of pay equality laws and help employers evaluate their own practices,” it included.
In the tech market — which routinely comes to grips with numbers that reveal it’s mainly comprised of white males — variation in pay is diminishing, however gradually. Earlier this year, work details website Glassdoor took a look at more than a half million income reports and discovered that at the speed we’re going, it’s going to take 51 years to close the pay space in between males and females.
Intel informed CNET it’ll launch its information by the 4th quarter of this year.
Originally released Oct. 17.
Update, Oct. 22: Adds more info on the pay space in the tech market.
