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Centerview Settles Analyst Sleep Lawsuit
23 Feb
Summary
- Centerview Partners settled a lawsuit from an analyst fired for sleep needs.
- The lawsuit highlighted Wall Street's demanding work culture.
- The analyst sought $5 million in damages before the settlement.
Centerview Partners LLC has reached a settlement in a lawsuit brought by a former analyst. The analyst alleged she was wrongfully terminated shortly after starting her three-year program because she required at least eight hours of sleep nightly due to mood and anxiety disorders.
The lawsuit highlighted the demanding "grind culture" prevalent in the finance industry, especially at junior levels. Centerview maintained that the ability to work unpredictable hours was essential to an analyst's role and incompatible with the claimant's request for consistent sleep and set working hours.
Before the settlement, the analyst was seeking $5 million in damages. The bank confirmed the settlement on Sunday, stating that while they believed her claims lacked merit and they were prepared to prove it in court, they were happy to move past this distraction.
