Wells Fargo announces ‘pause’ from politics that led to fake job interviews

Wells Fargo is temporarily suspending a hiring policy that led some officials to conduct mock interviews with non-white and female candidates, following a New York Times report highlighting the practice, the bank’s chief executive said , Charles W. Scharf, to employees in a letter on Monday.

Instituted in 2020, the bank’s “diverse roster” policy stipulated that at least half of applicants interviewed for vacancies paying $100,000 or more in annual salaries must be “diverse” — a catch-all term for racial minorities, women and members of other disadvantaged groups.

Although a version of the policy has been in place for years, Wells Fargo executives clarified it in writing in mid-2020 as part of a broader campaign to increase diversity within the bank. . On Monday, Mr. Scharf told employees the policy would be suspended for several weeks to give bank executives time to study its use and make changes.

The pause would allow the bank to ensure that “the guidelines deliver what they promise” and that “hiring managers, senior executives and recruiters fully understand how the guidelines should work,” Scharf said in the letter.

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