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Wal-Mart, currently dealing with the biggest class-action lawsuit in US history, has agreed to pay out a $25 million fund going toward women and minority owned business ventures. The payment is widely regarded as a reaction by the world’s largest retailer to allegations against the store of racial and sexual discrimination.
The lawsuit against Wal-Mart has some 1.6 million current and former female staff members onboard, as plaintiffs. The suit alleges that the retailer practices discrimination against its female employees both in salary and promotions.
US District Court Judge Martin Jenkins gave the lawsuit the green light in 2004 and said that the six filing plaintiffs could represent all female employees of Wal-Mart who had worked at their US stores anytime since December 26,1998. Employees included could have worked at any Wal-Mart retail store including Wal-Mart discount stores, super centers, neighborhood stores, and Sam’s Clubs.
The new initiative and funding by Wal-Mart is seen as a response to the heavy criticism the store received for its treatment of its female employees. Wal-Mart is the largest employer of females in the US and females account for some 2/3 of their total staff.
The $25 million fund will allegedly help firms owned by women and minorities in making acquisition, launching new ventures, and expanding in general.
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