NEWSLETTER
Goldman Sachs (GS) The fifth largest bank in the United States.
While many companies, such as Walmart, amazon and Meta, have reduced or reduced their diversity, equity and inclusion programs amid consumer pressure and legal concerns about policies, Goldman Sachs decided to defend their initiatives ofi.
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Goldman Sachs shareholders sent a proposal to the bank last month arguing that they should reduce their Dei program, since it runs the risk of putting shareholders in expensive legal problems, as demands of employees who can claim that policies in the program They are discriminatory.
Related: Goldman Sachs defends a fear of labor policy shareholders
Some of these policies in the Goldman Sachs program include a requirement for the bank to help companies with at least two various members of the Board to make public in the United States and Western Europe. It also has a policy that requires that you invest $ 10 billion in companies and organizations that benefit black women.
In addition, the bank has “inclusion networks” based on the breed and has established hiring objectives for black vice presidents in the United States and the United Kingdom
In a statement to Wall Street JournalGoldman Sachs responded to the proposal, stating that organizations can benefit from diversity in the workplace and will continue to be committed to their Dei policies and programs in accordance with the law.
Goldman Sachs changes march
Now, it seems that Goldman Sachs is slowly collapsing into anti-dei pressure. He has decided to discard his initiative ofi, which required only subscribing companies in the United States and Western Europe that have at least two diverse members of the Board.
In a statement to Washington Post, a Goldman Sachs spokesman said the bank decided to reduce politics due to “legal developments.”
“As a result of legal developments related to the diversity requirements of the Board, we finish our formal diversity policy of the Board,” said the spokesman. “We continue to believe that successful meetings benefit from various origins and perspectives, and we will encourage them to adopt this approach.”
In a recent one interview With the BBC, the Goldman Sachs International CEO, Richard Gnodd, said the diversity requirement of the bank's board “fulfilled its purpose.”
Related: JPMorgan Chase workers fight against a hard change of policy
“That policy served as a catalyst to try to promote a change in behavior,” Gnodde said in the interview. “The important thing here is that you have a diversity of views on that board, and if you look at these companies, they have all adopted diversity.”
Goldman Sachs's move occurs after President Donald Trump issued an executive order on January 21, the day after assuming the position, which dismantles the Federal Government's programs. In the executive order, he said that the programs enforce “illegal and immoral discrimination.” Later he ordered all federal employees of Dei to be put on a paid license.
More companies defend Dei
Goldman Sachs is not the only company that previously defended its Dei program of Anti-Dei critics.
Deutsche Bank's CEO, Christian Sewing, fiercely defended his bank's Dei program during a press conference in Frankfurt last month, according to a report Bloomberg.
“Now we are firmly behind this program,” Sewing said as we talk to journalists. “We can see how Deutsche Bank has benefited from him.”
More work:
- Recent goal layoffs take an unexpected turn
- Goldman Sachs defends a fear of the shareholders of labor policy
- Dell CEO sends a call for employee attention
JP Morgan Chase's CEO, Jamie Dimon, also declared in a interview With CNBC in the World Economic Forum in January that he is proud of the recent initiatives of Dei of his company, despite the recent efforts of activists to eradicate him from workplaces throughout the country.
“We are going to continue arriving in the black community, the Hispanic community, the LGBT community, the veteran community, we have a special program, a disabled second chance initiative,” Dimon said. “And wherever I go, red states, blue states, green states, mayors, governors and said they like what we do.”
Costco also raised his eyebrows last month when he defended his Dei program in a notice sent to the shareholders. The retailer declared that his diversity initiatives are “legally appropriate” and helps create “opportunities for all.”
Costco's shareholders even voted against a proposal to eliminate the dei program of the retailer at their annual shareholders meeting a few weeks ago.
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