Investment Bank Settles Case That Put 100-Hour Workweeks on Trial
Business Insider • • business
Key Points:
- Centerview Partners and former junior banker Kathryn Shiber have settled a lawsuit alleging disability discrimination after Shiber was fired in 2020 for needing extended sleep due to a mood and anxiety disorder.
- The case revealed intense work demands on first-year analysts, including 60 to 120-hour workweeks and around-the-clock project demands, highlighting Wall Street's grueling culture.
- Centerview denied any wrongdoing and expressed readiness to prove the claims had no merit, but opted to settle to move past the distraction and focus on clients.
- The settlement avoids a jury trial and testimony from senior bankers, including Centerview co-president Tony Kim, on workplace conditions and accommodations.
- Shiber had received a temporary accommodation for her sleep schedule but
