CEO of JPMorgan, Jamie Dimon, is standing firm on its diversity, equality, and inclusion commitments after facing pressure from an activist shareholder, as per Business Insider. JPMorgarn Reaffirms DEI commitments During an interview with CNBC at the World Economic Forum in Davos, Switzerland, Dimon said the bank will continue to move forward with its work in DEI work and environmental, social, and governance policies. This month, the National Legal and Policy Center, a conservative nonprofit, suggested that the company assess how executive compensation is linked to the company’s racial equity
A US appeals court has struck down Nasdaq’s diversity disclosure rules for companies listed on the stock exhange. The rules required companies to appoint women, racial minorities, or LGBTQ+ individuals to their boards or explain why they could not. The 5th Circuit Court ruled 9-8 that the proposal was not legal and that the Securities and Exchange Commission (SEC) had overstepped by approving Nasdaq’s rule. Court Rejects SEC’s Role in Diversity Mandate Nasdaq introduced a rule requiring companies to share board diversity data and include at least one director from
Boeing Co. has disbanded its global Diversity, Equity, and Inclusion (DEI) team, signaling a shift in corporate strategy under new CEO Kelly Ortberg, according to Bloomberg. This decision aligns with Ortberg’s broader effort to revamp Boeing’s workforce as the company deals with financial setbacks and pressure from conservative critics. Strategic Workforce Cuts and Leadership Changes The dismantling of Boeing’s DEI department comes as Ortberg oversees a large restructuring plan aimed at stabilizing the aerospace giant’s finances. The company, which plans to cut 10% of its workforce, has been focused on
While debates over diversity policies in corporate America intensify, new data shows that white male CEOs have been among the biggest financial beneficiaries of these initiatives. Farient Advisors, a compensation consulting firm, reports that 28 CEOs received diversity-linked bonuses last year, with white men making up the majority of recipients. Collectively, these executives earned nearly $5 million for achieving diversity, equity, and inclusion (DEI) goals. Top CEOs See Six-Figure Diversity Payouts American Airlines CEO Robert Isom topped the list with a $520,000 bonus tied to the airline’s DEI targets. He
Mirriad, a leader in virtual product placement technology, has launched The Diverse Media Alliance, bringing together content companies like Bomesi, Canela Media, LatiNation, Ntertain’s Neon16, and The Shade Room. This alliance aims to create a more equitable media landscape by helping brands better invest in and track their diverse media campaigns. Addressing the Gap in Diverse Media Investment Despite the surge of pledges in 2020 to invest more in diverse media, actual spending in this area remains disappointingly low. The Diverse Media Alliance aims to address this gap by helping
Microsoft’s recent decision to lay off a Diversity, Equity, and Inclusion (DEI) team due to “changing business needs” has stirred controversy within the company, Business Insider reports. Internal Email Criticizes Microsoft’s Commitment A prominent leader from the DEI team, whose identity has been confirmed by Business Insider, sent an email to thousands of Microsoft employees. The email criticized the company for deeming DEI work “no longer business critical or smart” as it was perceived in 2020. This message resonated strongly across the organization, reflecting a sense of betrayal among employees
Business leaders have acknowledged that their companies are lagging behind in their diversity efforts, according to a new report by The IN Group. The “UNLOCKED: Tech and the Boardroom” report surveyed 705 C-level executives in the UK, US, Germany and Netherlands. In today’s competitive business environment, diversity, equity, and inclusion (DEI) have become critical components of organizational success, however companies are falling behind. We’re falling behind, Say C-level execs In the report, 3 in 4 (76%) respondents confirmed that they have a diversity and inclusion strategy in place when it
Female entrepreneurs of color remain among the most disadvantaged in raising capital, despite growing efforts to support diversity in entrepreneurship, according to The Funding Divide report. Persistent Challenges in Fundraising The report, published by DocSend and Dropbox, found that racially diverse, all-female startup founding teams spent the longest time raising capital. In 2023, they spent an average of 25 weeks fundraising in 2023, a 67% increase from 2022. Despite this extended effort, they secured an average of only $460,000, the lowest amount among all demographic groups. In contrast, racially diverse,
Workplace diversity, equity, and inclusion (DEI) initiatives faced a significant setback after the US Supreme Court’s ruling on affirmative action in college admissions in 2023. However, experts now report that employers’ interest in DEI programs is now resurging, according to Law360. The Initial Impact of the Supreme Court’s Ruling The conservative-majority Supreme Court declared race-conscious admissions policies at Harvard University and the University of North Carolina unconstitutional. Though the ruling targeted higher education, its effects quickly spread to the corporate world. Legal threats led many employers to pull back on
The Tech Talent Charter (TTC), a diversity-focused organizaton partly funded by the UK government, has announced that it is closing. Founded in 2015, the TTC aimed to bridge the diversity gap in tech by collaborating with industry leaders to foster a more inclusive environment. Despite significant achievements, shifting industry priorities and economic pressures have led to the difficult decision to dissolve the organization. The Tech Talent Charter When the TTC was launched, women held fewer than 15% of tech roles in the UK, and broader diversity data was scarce. Over
