Durham, N.C.-based Arjuna Capital LLC has withdrawn a shareholder proposal for disclosure on wage data in JPMorgan Chase & Co. after the lender revealed information on its gender and racial pay gaps.
In a statement posted on its website, JPMorgan disclosed that women are paid 99% of what men are being paid, globally. Meanwhile, minority employees in the U.S. are paid more than 99% of what non-minority employees are being paid. These took into consideration employees' business areas, levels of experience and job descriptions.
JPMorgan is the sixth company to respond to Arjuna Capital's call to disclose gender pay gaps after Citigroup Inc., Bank of America Corp. and Wells Fargo & Co. disclosed theirs earlier this year.