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Wells Fargo is back at it again with their antics when it comes to the bank’s stance on diversity. According to NBC News , Wells Fargo & Co-Chief Executive Charles Scharf infuriated some of his Black employees in a Zoom meeting when he doubled down on why the bank has had trouble reaching diversity goals. Per Reuters , two participants shared his response to the bank’s lack of diversity is because “there was not enough qualified minority talent.” Not only did he express such a horrible take during the Zoom meeting, but Scharf also reiterated himself in the company-wide memo on June 18 following the nationwide protests that erupted after the police murdered George Floyd. “While it might sound like an excuse the unfortunate reality is that there is a very limited pool of Black talent to recruit from,” said Scharf in the memo, seen by Reuters. Several Black senior executives across corporate America were frustrated by Scharf’s claims on the talent shortage, calling the refrain a huge...
The coronavirus undoubtedly caused a halt in the everyday lives of Americans across the country. Stores closed, Wall Street took a hit, and unemployment skyrocketed overnight, but one thing remained constant even in the face of COVID-19 — racism. At a time like this, when humanity itself is challenged, one would think such events would bring out the best in all citizens, or at least basic human emotions like compassion, love, and kindness. Instead, some have resorted to using video conference platforms like Zoom, to spew hatred toward Black people. Such is the case with Tiara Moore who created a virtual safe space for women of color where they could exchange professional resources, chat, and support one another through the outbreak. BuzzFeed reports that Moore’s Zoom conference was hacked and filled with about 100 people all yelling racial slurs including the N-word. “I immediately closed it down like, what just happened,” she told BuzzFeed. “I was super emotional. I cried and I was...
While the stock market is suffering from historic lows due to the coronavirus outbreak, some companies are cashing in big time and Zoom Video Communications Inc. is one of them. According to Fortune , Eric Yuan, founder of Zoom, increased his net worth by $20 million on Monday as Zoom stock increased by 0.4 percent leading to a year-to-date gain of 58 percent. On Tuesday, Needham & Co. analyst, Richard Valera advised the stock market community to buy Zoom shares which led to an additional 3.5 percent increase. Zoom’s online video platform is in high demand as most of the nation quarantines and companies turn to a work from home model to host business conference calls and meetings. With the closure of many universities and colleges, students are also forced to continue their studies virtually. Fortune reports Yuan, born in China, was denied a U.S. visa eight times before finally moving to Silicon Valley and creating Zoom. The idea sparked when Yuan grew tired of having to travel ten...