Gender Pay Gap Closing as Amazon and Expedia Join Equity Tech Movement

Expedia is now the fourth major U.S. tech giant to announce since February that it is moving to close the gender pay equity gap, with Amazon also recently committing to gender pay equity.�
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"We applaud Expedia's leadership as they join the ranks of Apple and Intel to address gender pay equity,"�said�Natasha Lamb, director of equity research and shareholder engagement at Arjuna Capital. "Expedia is committed to a comprehensive assessment of gender pay equity.�This move is good for Expedia, its employees, and its shareholders. We are now seeing real movement to address gender equity in tech and Expedia is among the companies leading the way."

At the conclusion of a successful shareholder dialogue, Arjuna Capital, a division of Baldwin Brothers Inc., a registered investment advisor, withdrew their shareholder resolution that otherwise would have put the matter to a vote of Expedia, Inc. shareholders in June.�

Expedia has committed to disclose by October 2016 its policies and goals to address gender pay equity worldwide, including providing information relating to the percentage of pay (including salary, bonus, and equity components) earned by Expedia's female compared to its male employees.
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Arjuna Capital and Baldwin Brothers had filed resolutions this shareholder season at nine technology companies asking them to commit to closing the gender pay equity gap. Already this year, Arjuna Capital has announced success in its shareholder engagements at Amazon, Intel and Apple, all of which reported the gender pay gap is closed, near closed, or will be closed shortly.��

Online retailing giant Amazon is now the third major U.S. tech company this year to commit to gender pay equity. As a result, a shareholder resolution filed by Arjuna Capital and Baldwin Brothers Inc., and co-filed by Pax World Management, will be withdrawn.

"We are pleased Amazon is stepping up in response to investor concerns about gender pay equity.�Given Amazon's disclosure, we will withdraw our shareholder proposal, asking the company to report on its policies and goals to close the gender pay gap, which would otherwise go to a vote of shareholders at the annual meeting in June," said�Natasha Lamb, director of equity research and shareholder engagement at Arjuna Capital. "What we know is that a 'trust me, women are paid fairly' approach is not enough, and a defensive approach to gender pay equity will not solve the problem."

The Amazon response to shareholder pressure follows earlier steps by Apple and Intel. Earlier this month, the Securities and Exchange Commission (SEC) rejected an Amazon attempt to keep the resolution, off the ballot. Now, Amazon announced that it is on track to achieve gender pay equity.

Amazon, Intel and Apple have joined the ranks of very few US companies, including The Gap, Salesforce.com, and GoDaddy -- that have been accountable and transparent in their commitment to gender pay equity.

On a national level, women, who are paid an average of 78 cents for every dollar men earn, will not reach pay parity until 2058. In the technology industry, which struggles to recruit and retain a diverse workforce, recruiting firm Dice reports men earned nearly $10,000 dollars more than women on average in 2014.

"We remain committed to fostering an inclusive workplace for all employees," said Britta Wilson, vice president of Inclusion Strategies and Cultural Integrity, Expedia, Inc. "In recognition of this commitment, we are actively engaged in efforts intended to ensure equity of access and equity of opportunity. As part of this effort, one of our core areas of focus is increasing women in leadership capacities and ensuring pay equity at all levels."

Expedia, Amazon, Intel and Apple joined the ranks of very few US companies ? The Gap, Salesforce.com, and GoDaddy that have been accountable and transparent in their commitment to gender pay equity.

On a national level, women, who are paid an average of 78 cents for every dollar men earn, will not reach pay parity until 2058. In the technology industry, which struggles to recruit and retain a diverse workforce, recruiting firm Dice reports men earned nearly $10,000 dollars more than women on average in 2014.

"At the current rate of change, the gender pay gap is not expected to close for another 40 years," said Lamb. "This is not only bad for society, it is bad for business. Fostering gender diverse teams leads to more innovative better performing companies. Companies can and should commit to closing the gender pay gap, as Amazon has done today. But it won't happen without bold leadership."