DEI retreat widens as Citigroup and PepsiCo roll back diversity policies – MSN
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The retreat from corporate diversity programs widened this week as Citigroup (C) and PepsiCo (PEP) announced rollbacks of their DEI policies amid mounting scrutiny from a new administration in Washington, D.C.
At Citigroup, CEO Jane Fraser announced in a memo to company employees that the New York banking giant would no longer require new hires to be selected from a diverse set of job applicants.ion and talent management” team would now be known as “talent management and engagement.”
“It is important to note that we’re living in an environment where things are changing quickly,” Fraser said.
PepsiCo, the beverage giant, said in its own memo from CEO Ramon Laguarta that it will no longer have a DEI officer dedicated specifically to such issues, will “sunset” DEI workforce representation goals, and expand its supplier base.
The company, he added, will be announcing a new “inclusion for growth” strategy that is “in keeping with our company’s deep history of building an inclusive and respectful workplace culture.”
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