Target Ends Diversity Programs to Stay Aligned with 'Evolving External Landscape'
Target announced the termination of several diversity-related programs in a memo to employees, effective immediately.
Reasons for the Reversal:
* Alignment with the "evolving external landscape"
* "Years of data, insights, listening, and learning"
Program Changes:
* Termination of racial equity initiative
* Discontinuation of external diversity surveys
* Renaming of "Supplier Diversity" team to "Supplier Engagement"
* Evaluation of corporate partnerships
Context:
* Follows similar moves by major retailers Walmart and Tractor Supply Co.
* Recent sweeping rules by President Donald Trump banning DEI programs in federal agencies
* Pressure from conservative groups over Target's DEI policies
Countervailing Trends:
* Costco shareholders rejected a proposal to evaluate DEI risks
* JPMorgan CEO Jamie Dimon reaffirmed his company's commitment to DEI
Target's Commitment:
* CEO Brian Cornell previously defended DEI as "good business decisions... and the great thing for our brand."
* Memo emphasizes the company's ongoing commitment to inclusivity and belonging for all stakeholders.