Signet Jewelers on Thursday announced a $175 million settlement of long-running gender bias litigation, resolving claims on behalf of 68,000 female Sterling Jewelers employees that the retailer paid women less and promoted them less often than men.
The settlement averts a Sept. 5 arbitration that would have proceeded on a classwide basis, and subjected Sterling to potential greater liability than if employees pursued individual claims.
Sterling’s brands include Kay Jewelers and Jared. The company denied wrongdoing, and Bermuda-based Signet took a $190 million pre-tax charge for the settlement, which requires a private arbitrator’s approval.
