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Goldman Sachs offering free sex changes for British employees to fight 'old boys club' reputation

Goldman Sachs is now offering free sex change surgeries and fertility treatments to British employees under its health benefits plan in an effort to be more inclusive. (Image source: YouTube screencap)

Goldman Sachs is now offering free sex change surgeries to its British employees in an effort to shed the bank's conservative "old boys' club" image.

What are the details?

Vice Chairman Richard Gnodde made the announcement during a staff town hall meeting, according to the Sydney Morning Herald, saying the new benefits are geared toward helping "the whole issue of inclusiveness" at the bank's London office.

The Herald reported that the bank is fighting "to change its reputation as a conservative old boys' club."

The new perks include hormone therapy, gender reassignment surgery, and fertility treatments for women at no charge, according to the Daily Mail. Sex change operations can cost more than $105,000 in some instances.

Goldman Sachs has offered free sex change operations for its U.S. employees for a decade and is now extending the benefits to its 6,000 U.K. staffers. The surgeries are covered as long as patients are screened and diagnosed with transsexualism, according to CNN Money.

Other companies that have covered gender reassignment surgery for years include Bank of America, General Motors, Netflix, and Microsoft.

Anything else?

Despite the bank's efforts to be more inclusive, the Herald pointed to a lack of women holding top positions at Goldman Sachs in Europe as being responsible for a 72 percent gap between what male and female staff earn in bonuses.

In a Bloomberg report released Monday, Goldman is facing a discrimination complaint filed by a former vice president who was fired while on maternity leave. Tania Mirchandani worked for the firm for 15 years before being canned after the birth of her third child.

Mirchandani is seeking $1.5 million in damages and claims she was let go because she chose to take the entire four-month paid family leave offered in her benefits package. She recalled that when she announced her pregnancy, her boss expressed skepticism over her juggling work and home responsibilities, telling her, that's "a lot of mouths to feed."

Goldman spokesman Michael DuVally denied any discrimination against the former executive, saying she lost her job "for strategic planning reasons."

He added in an email that "Goldman Sacks is committed to supporting employees who are new parents, and takes its obligations and the laws relating to them very seriously."

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