Breaking News: U.S. Companies Revamp DEI Programs Amid Conservative Pressure
In a recent development, several major U.S. companies have made changes to their diversity, equity, and inclusion (DEI) programs in response to mounting pressure from conservative groups. JPMorgan Chase and five other companies have modified their DEI policies to address racial and ethnic representation in the workplace.
Here is a breakdown of the companies that have either scrapped or adjusted their DEI initiatives:
- Starbucks: Shareholders voted to remove a bonus tied to DEI goals from the executive compensation plan.
- Tractor Supply: The company announced it would no longer provide data to the Human Rights Campaign (HRC) and would eliminate DEI roles and goals.
- Deere: The farm equipment maker stated it would not support external social or cultural awareness events and clarified that diversity quotas and pronoun identification are not part of company policy.
- Harley-Davidson: The motorcycle manufacturer ended its DEI initiatives and opted out of the HRC survey.
- Brown-Forman: The Jack Daniel's maker tied executive incentives to business performance, ceased participation in the HRC survey, and removed quantitative diversity goals.
- Lowe's: The home improvement chain consolidated its employee resource groups and decided not to participate in HRC surveys or community events.
- Ford Motor: The automaker announced changes to its DEI program, including discontinuing participation in an LGBTQ advocacy group's ranking system.
- Molson Coors Beverage: The beer maker will no longer participate in the HRC index and will link executive incentives to business performance.
This shift in DEI programs reflects a broader trend in the corporate world as companies navigate the intersection of social responsibility, business performance, and external pressures. Investors and employees alike should pay attention to these changes as they may impact company culture, employee satisfaction, and ultimately, financial performance. Stay tuned for more updates on this evolving story.