Bahnsen Group founder and managing partner David Bahnsen joins ‘The Big Money Show’ to discuss companies that have reversed course on DEI and ESG investing, UFC CEO Dana White joins Meta’s board and the ongoing California wilds.
Target announced Friday that it is reducing its Diversity, Equity and Inclusion (DEI) The policies follow President Donald Trump’s executive order to review such initiatives. The move adds a target to a growing list of companies reducing or eliminating their DEI efforts as these programs come under increased scrutiny.
Kiera Fernandez, Target’s chief impact and equity officer, said in a memo to employees Friday that the retailer will implement the changes as part of its “bullseye affiliation” strategy that adapts to the evolving external landscape. This includes concluding its three-year DEI targets and ending working capital initiatives and change initiatives (reach) in 2025, as planned.
“As a retailer that serves millions of consumers every day, we understand the importance of staying in step with the evolving outdoor landscape, now and in the future – all in service of driving growth and winning for Target,” said Fernandez.
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The Minneapolis-based retailer said it used “years of data, insights, listening and learning” to share the next chapter in its strategy.
Target’s announcement comes as pressure on major corporations increases, especially from social media influencers like Robby Starbuck, A return to initiatives that claim to increase racial and gender equality in the workplace. The initiatives have also faced fierce criticism from Trump, who on Tuesday signed an executive order directing government agencies to investigate DEI programs at publicly traded corporations, large nonprofit corporations or associations and foundations with at least $500 million in assets. The goal falls into that category.
“DEI and DEIA’s illegal policies not only violate the letter and spirit of our long-standing federal civil rights laws, but also undermine our national unity, as they negate, discredit, and undermine traditional American values of hard work, excellence, and individual achievement in favor of illegal, corrosive and harmful identity-based looting system,” the executive order states.
An employee pulls a wheel to restock shelves at a Target store in Chicago on Nov. 26, 2024. (Kamil Krzaczynski/AFP via Getty Images/Getty Images)
Fernandez said Target hires and retains employees “who represent the communities we serve,” but moving forward, she said she will stop all external diversity surveys, including HRC’s Corporate Equality Index.
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Target will also change its “supplier diversity” team to “supplier engagement” to reflect “an inclusive global sourcing process across a broad range of suppliers, including increasing our focus on small businesses,” Fernandez said in a note.
| Cube | Safety | Last | Change | Change % |
|---|---|---|---|---|
| Tgt | Target Corp. | 137.82 | +0.57 |
+0.42% |
It will also review corporate partnerships and ensure employee resource groups focus on development and mentoring for all communities.
“We remain focused on running our business by creating a sense of belonging to our team, guests and communities through a commitment to inclusion. Belonging to all is an essential part of our team and culture, helping to deliver consumer and fuel business results,” Fernandez wrote.
Shoppers visit a Target store in Clifton, New Jersey on November 26, 2024. (Victor J. Blue / Bloomberg via Getty Images / Getty Images)
AND a number of companies, Including Amazon, Lowe’s, Meta, McDonald’s, American Airlines and Boeing, they have pulled back on their DEI programs as pressure has mounted in recent months. In November, Walmart, the nation’s largest private employer, announced plans to roll back its policies, including how it monitors products in its marketplace and reevaluates grant funding.
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Conversely, some companies have resisted activist pressure, publicly affirming their commitment to maintaining DEI policies.
Microsoft CEO Satya Nadella In October, the tech company said in its annual report that it continues to ensure its “workforce represents the planet we serve and the products we build always meet the needs of our customers” and that it continues to “hire, develop and grow a global workforce that best supports each other.” and our customers.”
Baskets are seen outside a Target store in Albany, California on November 18, 2024. (David Paul Morris / Bloomberg via Getty Images / Getty Images)
Pinterest’s chief legal officer, Wanji Walcott, posted on LinkedIn that the company is “laser-focused on advancing inclusion and diversity both within our organization and on our platform, investing in critical initiatives like equity in the amount of internal and physical inclusivity.”
Still, anti-combat activist Starbuck, who has called for companies to scale back or end their DEI programs, said he has no intention of stopping his campaign anytime soon.
Target first introduced the “bullseye membership” strategy in early 2024, but has been working on it since 2021.
