Wells Fargo has suspended a hiring policy that requires recruiters to interview a wide variety of candidates, after The New York Times reported that such interviews are often fake and take place after others have already secured job commitments of.
The bank also plans to conduct a review of its various shale oil policies, Chief Executive Charles Schaff told employees on Monday, according to a memo seen by Reuters.
“I’ve had the opportunity to hear from many of you since The New York Times ran an article last month about the various job seekers at Wells Fargo,” Schaff said of the bank’s employees.
“In these meetings, you describe in a very personal way the career barriers you face because of who you are,” he added.
The New York Times reported last month that a former employee of the bank’s wealth management business complained that his boss forced him to interview for jobs that had been promised to others just to meet various demands.
Diversity recruiting is a talent acquisition strategy in which recruiters start with an already diverse pool of qualified candidates.
Scharf said the bank will continue to aggressively seek diversity in hiring during this hiatus and will make necessary adjustments to its diverse Slate program after the review is complete, relaunching in July.
Scharf reiterated in a 2020 Zoom meeting that the bank was struggling to meet diversity goals because of a lack of qualified minority talent, angering some black employees, Reuters reported at the time.