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Wednesday, 3 January 2018

Iceland begins fining companies with gender-based salary disparities

Iceland became the first country to fine companies for gender-based salary disparities, when a law passed last year came into effect at the start of January, according to Vice News. In other words: Companies are now legally obligated to prove they pay men and women equally for doing the same work. Women in Iceland received salaries 14-20% less than their male peers, despite the country taking significant strides in achieving gender parity, Vice claims. “When it comes to equal pay, Iceland has been a global leader for years. The island country routinely placed at the top in rankings of countries dedicated to closing the gender gap, and the nation has pledged to erase the gender pay gap by 2022.”

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