Citigroup joins corporate retreat from diversity initiatives

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Citigroup joins corporate retreat from diversity initiatives

//business-finance.news-articles.net/content/202 .. orporate-retreat-from-diversity-initiatives.html

Published in Business and Finance on Thursday, February 20th 2025 at 17:20 GMT by Reuters
^{🞛 This publication is a summary or evaluation of another publication 🞛 This publication contains editorial commentary or bias from the source}

Citigroup will no longer require a diverse slate of candidates for job interviews, its CEO said in a memo on Thursday, as corporate America contends with a new business climate under President Donald Trump.

Citigroup Inc has decided to scale back its diversity, equity, and inclusion (DEI) initiatives, joining other major U.S. corporations in reevaluating their DEI commitments amid legal and political pressures. The bank has eliminated specific diversity targets for hiring and promotion, which were previously set to increase the representation of women and people of color in senior roles. This retreat comes in the wake of a Supreme Court decision that struck down race-conscious admissions in higher education, prompting companies to reassess their DEI strategies to avoid potential legal challenges. Citigroup's move reflects a broader corporate trend where companies are either pausing or modifying their DEI programs to navigate the shifting legal landscape and public sentiment. Despite this, Citigroup emphasized that it remains committed to fostering an inclusive culture, though without the previous numerical goals.

Read the Full Reuters Article at:
[ https://www.reuters.com/business/finance/citigroup-joins-corporate-retreat-diversity-initiatives-2025-02-20/ ]

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