Story perspectives

Corporations Retreat from Diversity Commitments Amid Political Pressure

2/12/2025

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Summary

Story summary

Goldman Sachs and Deloitte updated diversity policies in response to political pressures from the Trump administration.
Goldman removed the requirement for IPO clients to include diverse board members following a court ruling.
Deloitte advised staff to eliminate pronouns from emails and discontinued its DEI programs.
These actions indicate a growing trend of corporations scaling back on diversity commitments.

History

Historical Context

Goldman Sachs and Deloitte's recent changes to diversity policies reflect a broader trend of corporations retreating from diversity commitments. This shift parallels the political climate post-Trump's election in 2016, which saw a backlash against diversity initiatives. Historically, the DEI industry surged following movements like #MeToo and Black Lives Matter, but recent legal and political challenges have prompted companies to reconsider their diversity strategies.

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Story summary

Goldman Sachs and Deloitte updated diversity policies in response to political pressures from the Trump administration.
Goldman removed the requirement for IPO clients to include diverse board members following a court ruling.
Deloitte advised staff to eliminate pronouns from emails and discontinued its DEI programs.
These actions indicate a growing trend of corporations scaling back on diversity commitments.

1 / 2