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Nubank shows that the financial sector has no empathy with black people



São Paulo – The financial market has no empathy for black people. This is what evaluates the director of the Bankers Union of São Paulo, Osasco and Region, Júlio César Silva Santos. When commenting on the case of the declaration of racism by the Brazilian partner of the digital bank Nubank, Cristina Junqueira, in an interview on the Roda Viva program, in TV Culture, last week, Santos says this demonstration is nothing new.

“This case is the result of institutional racism that is perpetually occurring in the banking segment,” says Santos, who is also a member of the Union Law commission at the Bar Association (OAB), in the São Paulo section; doctoral student and master in Political and Economic Law at Universidade Presbiteriana Mackenzie; and director of the Luiz Gama Institute.

Of the total 450 thousand bank employees distributed in Brazil, only 24% of the category is formed by black workers. This is what the Map of Diversity in the Banking Category points out, a census conducted in 2014 by the Brazilian Federation of Banks (Febraban). In response to a demand by the trade union movement, the organization raised that 21% of workers declared themselves to be brown at the time. And only 3% blacks, although, altogether, blacks are the majority of the population in the country – 56.10%.

The survey also points out that, among this percentage, only one third is made up of black women. What for the director shows the lack of empathy with the black people, as highlighted in an interview with journalist Marilu Cabañas, from Current Brazil Newspaper.


The statement by Nubank’s partner is yet another symptom of the refractory situation of the financial market to blacks. Asked last week about the difficulty in hiring black people for key positions in the institution, the co-founder said that “we have been looking for candidates for various positions for some time. He has the position of Vice President of Marketing to work with me that I have been looking for a long time and it is difficult. I think recruiting on Nubank has always been difficult, Nubank’s biggest challenge is people. You can’t level it out below ”.

Regarding a possible implementation of affirmative policies, Cristina added that “it is useless to put someone inside who will not be able to work with the teams that we have, to develop, to advance in our careers, then it will not be well evaluated . Then we are not solving the problem, we are creating another one ”. The speech caused reaction and revolt on social networks.

Indirect discrimination

After the negative reviews, the co-founder of Nubank apologized and claimed that she had not “expressed herself in the best way. It is super important for us to have a clear communication, I would like to thank all the feedback that is coming, the repercussions that are having, because everyone has something to learn ”.

This Sunday (25), Nubank released a letter signed by the three co-founders, acknowledging the racist error. In the letter, management also commits to “listening more and acting more”. “We will use this characteristic to restart a journey of racial inclusion”, he promised.

THE Current Brazil Radio, the lawyer, professor and doctoral student in Political and Economic Law by Mackenzie, Waleska Miguel Batista, warns, however, that the co-founder’s speech reproduces a type of “indirect discrimination” common in the job market. “She deduces that there are no trained blacks in the market to take these jobs. Since there are many trained blacks in the market, there is no difference. What she needs to observe is what are the requirements for this vacancy because within the framework of the trained, graduated and postgraduate black population there are many competent people to occupy this management ”.

Waleska points out that black people are already trained. “And nothing prevents the company from using mechanisms to further empower them after they enter the market,” he explains.

Check out the interview:

Copywriting: Clara Assunção – Edition: Helder Lima

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more unemployment and more informality




São Paulo – Government, businessmen and some parliamentarians were in tune with the defense of the bill that, if approved, would lead to the creation of Law 13,467 in 2017. The so-called labor reform, after all, would lead to the creation of millions of jobs. This would happen to the extent that it would end the rigidity of the legislation, which they treated as being “plastered”, facilitating hiring and giving the much-needed “modernization” to the Brazilian labor market.

Because the law completed three years on November 11 “and nobody celebrated, not even timidly”, recalls analyst Marcos Verlaine, from the Inter-Union Department of Parliamentary Advisory (Diap). “Among the expectations generated by the authors, the government of that time, the businessmen, who sponsored, defended and acted strongly in Congress to approve it, the media and reality, remained the harsh reality”, he says, in an article. He defines the measure passed by Congress as a “capital Trojan horse” to implode labor rights.

Collective bargaining?

The insistent defense of the “negotiated over the legislature”, a recurring expression at the time, was not to privilege negotiation, notes the analyst. “It was to remove rights, since the negotiations – both CCT (ccollective labor agreements) and ACT (collective labor agreements) – they never prevented, on the contrary, that the conventions surpass the CLT, nor that the agreements surpass the conventions. ”

The “millions” of jobs did not come, even before the pandemic. The growth in occupation was basically due to informal work. In 2016, the year before the “reform”, the country had 10.1 million unpaid employees in the private sector and 22.4 million self-employed workers. Last year, they were 11.6 million and 24.2 million, respectively (check table). The data are from the National Household Sample Survey (Pnad) Continua, from IBGE.

Modernization or precariousness?

Employment with a wallet fell. And the Gini index at work, which measures inequality, which until 2015 fell, rose again the following year and has not stopped.

The “reform” introduced hiring modalities, such as intermittent work. They were also presented as items of the necessary “modernization”, but union members and researchers identify them as additional signs of precariousness in the market. Although still small, the participation of the intermittent modality has been growing.

This week, the Federal Supreme Court (STF) began to judge direct actions of unconstitutionality against intermittent work. In his vote, the rapporteur, Minister Edson Fachin, considered the item unconstitutional and causing damage to workers’ health. But his colleagues Kassio Nunes Marques and Alexandre Moraes were in favor of the sport. The trial was interrupted by a request for view from Minister Rosa Weber.

If it is impossible to revoke the law in its entirety, Verlaine suggests specific changes, citing intermittent hiring. “It is necessary to negotiate with all political and social actors in order to bring about changes in this scorched earth scenario” he argues.

read more: ‘Labor Reform’: Stories of a False Promise and Changes in ‘Endless Destruction’

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