Several prominent companies and Wall Street banks, including Zoom, Meta, Tesla, DoorDash, Lyft, Home Depot, Wayfair, X, Goldman Sachs, and JPMorgan, have significantly reduced the size of their Diversity, Equity, and Inclusion (DEI) teams, with cuts reported to be 50 percent or more. This shift reflects a broader trend of reevaluating DEI initiatives, with some firms disconnecting diversity metrics from senior management compensation, removing references to race and gender in college recruitment, and ending exclusive events for specific groups. The changes come amid a conservative backlash and legal concerns, prompting companies to avoid potential lawsuits and public backlash. This development has sparked concerns among Black women and other minority groups about the increasing difficulty in advancing their careers in a corporate landscape that appears to be growing more hostile towards diversity initiatives.
Wall Street is lifting restrictions based on race that excluded white applicants. DEI is dying… https://t.co/9l6iJE6bEt https://t.co/zpvy9mo0QH
The furor over corporate diversity, equity and inclusion programs has turned so explosive that it’s never been busier for specialists on the topic https://t.co/tPlDJqiXIv
DEI is dead Goldman Sachs Group Inc. has made a surprising change to its “Possibilities Summit” for Black college students: It’s opened the program to White students. https://t.co/ogMUJZzaVH
The left: 'Suggesting DEI policies play any role in hiring highly qualified Black Women is racism at work in our society.' Also the left: 'Without DEI policies, Black Women are unable to succeed in their careers!' https://t.co/xG94Myk5kH
The left: 'Suggesting Black women hired under DEI policies are only hired for their race and sex is racist and sexist!!' Also the left: 'Without DEI policies, Black women struggle to climb the career ladder!' https://t.co/xG94Myk5kH
With criticism on diversity, equity and inclusion initiatives, Black women looking to climb the corporate ladder are facing a tough career landscape. https://t.co/fa1tuOM6h8
Wall Street's DEI retreat has officially begun https://t.co/xmVIULekDT via @pensionsnews
Many executives who once felt pressure to "do something" after George Floyd's death now sense they can unwind their divisive and unmeritocratic DEI regimes. https://t.co/dWW2RgnYJe via @realchrisrufo
“Major banks are scaling back DEI programs and reconsidering diversity targets amid a conservative backlash.” “Bank of America and Goldman Sachs are among institutions which have overhauled inclusivity programs which exclusively focused on women and minorities to now accept…
With attacks on diversity, equity and inclusion initiatives raging, Black women looking to climb the corporate ladder face a more hostile landscape than ever. https://t.co/GBWiZR62rw
Diversity is under attack. https://t.co/S6WTK4JyQ4
As Zoom becomes one of the latest tech companies to lay off staff, including its DEI team, @MadBennett suggests firms should reshape DEI programs to cover areas like age and class, rather than cut them altogether: https://t.co/TP6SCQ5p57 https://t.co/9oCsVpACDH
Black women struggle to find their way in a job world where diversity is under attack https://t.co/gsBtPsvtXT
‘We intend to stop breaking the law’ doesn’t cut it. Where are my plaintiffs? DEI on Wall Street today: anxious, fraught -- and changing fast. Goldman Sachs, JPMorgan and others are scrambling to avoid lawsuits and backlash. https://t.co/9wlx4Yo7jV via @bbgequality
This is meaningful: -> Disconnecting diversity metrics as a senior management compensation factor. -> Removing references to race and gender in college recruitment programs. -> Ending exclusive events for specific groups- women, gays, and people of color. Source: Bloomberg https://t.co/5HmKb4H9LX
The DEI business is now in recession. Zoom, Meta, Telsa, DoorDash, Lyft, Home Depot, Wayfair, and X have all "[slashed] the size of their DEI teams by 50 percent or more." And that is only the beginning. https://t.co/PpqTqeyivA
Zoom laid off its DEI team—and it’s not the only company making such cuts… https://t.co/yXwtSahiQX