A French court orders Credit Suisse to pay €910,000 to a trader denied promotion after announcing pregnancy, citing structural sex discrimination.
PARIS: A French court has ordered Credit Suisse to pay 910,000 euros to a former trader who was denied a promotion after announcing her pregnancy.
The Paris Court of Appeal ruled the bank must compensate the woman for discrimination “because of her sex, her pregnancy and her status as a mother”.
The plaintiff, hired in 2009, cited around 10 incidents to support her claim. These included “structural sex discrimination within the company” and the “sudden termination of her variable compensation coinciding with her pregnancy”.
The judgment stated documents provided “materially establish” the existence of structural sex discrimination at the firm.
She requested a promotion to director in 2012. After announcing her pregnancy in September 2014, the bank never granted her request.
Following several maternity leaves, she and the bank signed a mutual termination agreement in June 2016.
A labour court had awarded her 150,000 euros in 2019, but she appealed, arguing the sum was too low given her potential earnings.
Credit Suisse, which has since been acquired by UBS, retains the right to appeal Tuesday’s non-final decision.
