Citigroup will now not require a various slate of candidates for job interviews, its CEO mentioned in a memo on Thursday, as company America contends with a brand new enterprise local weather beneath President Trump.
The financial institution is not going to have “aspirational representation goals” besides as required by native legislation, CEO Jane Fraser mentioned. It would additionally change the identify of the “Diversity, Equity and Inclusion and Talent Management” group to “Talent Management and Engagement.”
Since taking workplace, Trump has tried to dismantle range, fairness and inclusion (DEI) applications within the federal authorities and the personal sector. In response, a number of main corporations are scaling again their range commitments.
Earlier this month, Goldman Sachs canceled a four-year-old coverage of completely taking public corporations with a minimum of two various board members.
Final week, JPMorgan Chase additionally mentioned it expects to face criticism over a few of its DEI practices.
Wall Road has lengthy grappled with range challenges. However even earlier than Trump took workplace, some massive firms have been already dealing with strain from conservative teams to cut back their DEI insurance policies.
“It is important to note that we’re living in an environment where things are changing quickly,” Fraser wrote, including that the financial institution will nonetheless encourage “the best practice of having a variety of perspectives included in hiring decisions.”
