Citigroup said Thursday it is ending some initiatives aimed at ensuring a diverse workforce, joining other leading companies as President Donald Trump’s administration targets programs that have benefited underrepresented populations.
Chief Executive Jane Fraser said the company will change some practices while aiming to “retain the benefits that come from having a global and diverse colleague base,” according to a staff memo.
The US banking giant will no longer have “aspirational representation goals” except as required by local law and will no longer require a diverse slate of candidates for prospective jobs or among its interviewers, according to the memo.
The lender is also renaming its talent management program, dropping the term “diversity, equity and inclusion,” or DEI, a term Trump and allies have lambasted, along with “woke.”
“It is important to note that we’re living in an environment where things are changing quickly. We will determine if additional updates are needed to other areas in the coming weeks,” the memo said.
The move follows DEI retreats by other large companies such as retailers Walmart and Target since Trump’s November election win, accelerating a backlash against the policies that had been brewing prior to the election among right-wing voices on social media.
In some cases, companies have reversed corporate programs unveiled in the aftermath of the murder of George Floyd, a Black man, in May 2020 at the hands of a white police officer.
Add Comment