Gold's Rally Is Rewriting America's Financial Story

As inflation lingers and governments wobble, gold keeps breaking records - and U.S. supply is suddenly back in focus. One domestic gold play is riding this trend on multiple fronts.

Which US companies are pulling back on diversity initiatives?

The Associated Press
March 07, 2025

A growing number of prominent companies have scaled back or set aside the diversity, equity and inclusion initiatives that much of corporate America endorsed following the protests that accompanied the Minneapolis police killing of George Floyd, a Black man, in 2020.

The changes have come in response to a campaign by conservative activists to target workplace programs in the courts and social media, and more recently, President Donald Trump's executive orders aimed at upending DEI policies in both the federal government and private sector.

DEI policies typically are intended to root out systemic barriers to the advancement of historically marginalized groups in certain fields or roles. Critics argue that some education, government and business programs are discriminatory because they single out participants based on factors such as race, gender and sexual orientation. They have targeted corporate sponsorships, employee-led affinity groups, programs aimed at steering contracts to minority or women-owned businesses, and goals that some companies established for increasing minority representation in leadership ranks.

While hiring or promotion decisions based on race or gender is illegal under Title VII of the 1964 Civil Rights Act in most circumstances, companies say they are not doing that. Instead, they say they aspire to diversify their workforce over time through policies like widening candidate pools for job openings.

These are some of the companies that have retreated from DEI:

Uber

After an conducting an internal investigation that found rampant sexual harassment issues within its corporate office under its founder and former CEO Travis Kalanick, Uber has been focused on overhauling its corporate culture since its current CEO Dara Khosrowshahi took over in 2017.

Those changes had included a ramped-up commitment to diversity and inclusion as part of a commitment that the ride-hailing service highlighted in a section of its annual report for 2023.

But Uber dropped its diversity and inclusion section from its 2024 annual report filed last month. And the word "diversity" doesn't appear anywhere in its 135 pages.

Uber didn't immediately respond to a request for comment Friday.

Salesforce

Salesforce CEO Marc Benioff once was on a crusade to inspire other corporate leaders to become social activists in a drive to fix a "train wreck" of inequality, but he has since toned down that message while pledging to work with President Donald Trump "to drive American success and prosperity for all."

Although Benioff personally has remained an outspoken supporter of LGBTQ+ rights, Salesforce is no longer touting its diversity program. After carving out a section of its annual report filed last year to declare, "Equality, Diversity and Inclusion Equality is a core value at Salesforce," the San Francisco excluded any discussion of diversity programs in its latest annual report filed March 5.

"While we don't have representation goals, we remain committed to our value of equality," Salesforce said in a statement.

Pepsi

PepsiCo confirmed that it's ending some of its diversity, equity and inclusion initiatives, even as rival Coca-Cola voiced support for its own inclusion efforts.

In a memo sent to employees, PepsiCo CEO Ramon Laguarta said the company will no longer set goals for minority representation in its managerial roles or supplier base. The company will also align its sponsorships to events and groups that promote business growth, he said.

Laguarta wrote that inclusion remains important to PepsiCo, whose brands include Gatorade, Lay's potato chips, Doritos, Mountain Dew as well as Pepsi. The Purchase, New York-based company's chief diversity officer will transition to a broader role focused on employee engagement, leadership development and ensuring an inclusive culture, he said.

Goldman Sachs

Investment firm Goldman Sachs confirmed that it was dropping a requirement that forced IPO clients to include women and members of minority groups on their board of directors.

"As a result of legal developments related to board diversity requirements, we ended our formal board diversity policy," said a Goldman Sachs spokesman in an email to The Associated Press. "We continue to believe that successful boards benefit from diverse backgrounds and perspectives, and we will encourage them to take this approach."

Goldman Sachs said that it will still have a placement service that connects its clients with diverse candidates to serve on their boards.

Google

Google rescinded a goal it had set in 2020 to increase representation of underrepresented groups among the company's leadership team by 30% within five years. In a memo to employees, the company also said it was considering other changes in response to Trump's executive order aimed at prohibiting federal contractors from conducting DEI practices that constitute "illegal discrimination."

Google's parent company Alphabet also signaled things were changing in its annual 10-K report filed with the Securities and Exchange Commission. The report dropped a boilerplate sentence it has used since 2020 declaring that the company is "committed to making diversity, equity, and inclusion part of everything we do and to growing a workforce that is representative of the users we serve."

Target

The retailer said that changes to its "Belonging at the Bullseye" strategy would include ending a program it established to help Black employees build meaningful careers, improve the experience of Black shoppers and to promote Black-owned businesses following Floyd's death in Minneapolis, where Target has its headquarters.

Target, which operates nearly 2,000 stores nationwide and employs more than 400,000 people, said it also would conclude the diversity, equity and inclusion, or DEI, goals it previously set in three-year cycles.

The goals included hiring and promoting more women and members of racial minority groups, and recruiting more diverse suppliers, including businesses owned by people of color, women, LGBTQ+ people, veterans and people with disabilities.

Target also will no longer participate in surveys designed to gauge the effectiveness of its actions, including an annual index compiled by the Human Rights Campaign, a national LGBTQ+ rights organization. Target also said it would further evaluate corporate partnerships to ensure they're connected directly to business objectives, but declined to share details.

Meta Platforms

The parent company of Facebook and Instagram said it was getting rid of its diversity, equity and inclusion program, which featured policies for hiring, training and picking vendors.

Like other companies that announced similar changes before Meta, the social media giant said it had been reviewing the program since the Supreme Court's July 2023 ruling upending affirmative action in higher education.

Citing an internal memo sent to employees, news website Axios reported the Menlo Park, California-based tech giant said it would no longer have a team focused on diversity and inclusion and will instead "focus on how to apply fair and consistent practices that mitigate bias for all, no matter your background." The change means the company will also end its "diverse slate approach" to hiring, which involved considering a diverse pool of candidates for every open position.

Amazon

Amazon said it was halting some of its DEI programs, although it did not specify which ones. In a Dec. 16 memo to employees, Candi Castleberry, a senior human resources executive, said the company has been "winding down outdated programs and materials, and we're aiming to complete that by the end of 2024."

"We also know there will always be individuals or teams who continue to do well-intentioned things that don't align with our company-wide approach, and we might not always see those right away. But we'll keep at it," she wrote.

Rather than "have individual groups build programs," Castleberry said, Amazon is "focusing on programs with proven outcomes - and we also aim to foster a more truly inclusive culture."

McDonald's

Four years after launching a push for more diversity in its ranks, McDonald's said earlier this month that it is ending some of its diversity practices.

McDonald's said on Jan. 6 that it will retire specific goals for achieving diversity at senior leadership levels. It also intends to end a program that encourages its suppliers to develop diversity training and to increase the number of minority group members represented within their own leadership ranks.

McDonald's said it will also pause "external surveys." The burger giant didn't elaborate, but several other companies have suspended their participation in an annual survey by the HRC.

In an open letter to employees and franchisees, McDonald's senior leadership team said it remained committed to inclusion and believes that having a diverse workforce is a competitive advantage.

Walmart

The world's largest retailer confirmed in November that it would not be renewing a five-year commitment to a racial equity center set up in 2020 after the police killing of George Floyd, and that it would stop participating in the HRC's Corporate Equality Index.

Walmart also said it will better monitor its third-party marketplace to make sure items sold there do not include products aimed at LGBTQ+ minors, including chest binders intended for transgender youth.

Additionally, the company will no longer consider race and gender as a litmus test to improve diversity when it offers supplier contracts and it won't be gathering demographic data when determining financing eligibility for those grants.

Ford

CEO Jim Farley sent a memo to the automaker's employees in August outlining changes to the company's DEI policies, including a decision to stop taking part in HRC's Corporate Equality Index.

Ford, he wrote, had been looking at its policies for a year. The company doesn't use hiring quotas or tie compensation to specific diversity goals but remains committed to "fostering a safe and inclusive workplace," Farley said.

"We will continue to put our effort and resources into taking care of our customers, our team, and our communities versus publicly commenting on the many polarizing issues of the day," the memo said.

Lowe's

In August, Lowe's executive leadership said the company began "reviewing" its programs following the Supreme Court's affirmative action ruling and decided to combine its employee resource groups into one umbrella organization. Previously, the company had "individual groups representing diverse sections of our associate population."

The retailer also will no longer participate in the HRC index, and will stop sponsoring and participating in events, such as festivals and parades, that are outside of its business areas.

Harley-Davidson

In a post on X in August, Harley-Davidson said the company would review all sponsorships and organizations it was affiliated with, and that all would have to be centrally approved. It said the company would focus exclusively on growing the sport of motorcycling and retaining its loyal riding community, in addition to supporting first responders, active military members and veterans.

The motorcycle maker said it would no longer participate in the ranking of workplace equality compiled by the HRC, and that its trainings would be related to the needs of the business and absent of socially motivated content.

Harley-Davidson also said it does not have hiring quotas and would no longer have supplier diversity spending goals.

Brown-Forman

The parent company of Jack Daniels also pulled out from participating in the HRC's Corporate Equality Index, among other changes. Its leaders sent an email to employees in August saying the company launched its diversity and inclusion strategy in 2019, but since then "the world has evolved, our business has changed, and the legal and external landscape has shifted dramatically."

The company said it would remove its quantitative workforce and supplier diversity ambitions, ensure incentives and employee goals were tied to business performance, and review training programs for consistency with a revised strategy.

"Brown-Forman continues to foster an inclusive work environment where everyone is welcomed, respected, and able to bring their best self to work," spokeswoman Elizabeth Conway said in an email.

John Deere

The farm equipment maker said in July that it would no longer sponsor "social or cultural awareness" events, and that it would audit all training materials "to ensure the absence of socially-motivated messages" in compliance with federal and local laws.

Moline, Illinois-based John Deere added "the existence of diversity quotas and pronoun identification have never been and are not company policy." But it noted that it would still continue to "track and advance" the diversity of the company.

Tractor Supply

The retailer in June said it was ending an array of corporate diversity and climate efforts, a move that came after weeks of online conservative backlash against the rural retailer.

Tractor Supply said it would be eliminating all of its DEI roles while retiring current DEI goals. The company added that it would "stop sponsoring non-business activities" such as Pride festivals or voting campaigns -- and no longer submit data for the HRC index.

The Brentwood, Tennessee-based company, which sells products ranging from farming equipment to pet supplies, also said that it would withdraw from its carbon emission goals to instead "focus on our land and water conservation efforts."

The National Black Farmers Association called on Tractor Supply's president and CEO to step down shortly after the company's announcement.

Continue Reading...

Popular

Cathie Wood, Tom Lee Align On These 10 Stock Picks: Some Might Surprise You

A new ETF from Tom Lee shares 10 stocks in common with Cathie Wood's Ark Funds. A look at the stocks both well-known financial figures like.

This Coin Could Be Like Buying Bitcoin in 2017 - Ad

One of Bitcoin's biggest supporters on Wall Street is moving away from Bitcoin and into this special crypto. He even called this new coin, "the preferred choice for Wall Street."

L3Harris Lands $2.26 Billion South Korea Air Defense Contract

L3Harris won a $2.26B deal to deliver modified Bombardier Global 6500 AEW&C aircraft to the South Korean Air Force.

Tim Cook To Depart, Steve Jobs' Lesson For Guy Kawasaki And More: This Week In Appleverse

From executive shake-ups at Apple to TSMC's revenue surge and Goldman's take on the AI boom, here are the top Apple stories.

Elon's New Device Could Launch Biggest IPO of the Decade - Ad

Elon Musk's new device is being called a "game-changer"-and even the White House is using this tech. Jeff Brown says it could launch Musk's next trillion-dollar company and make early investors rich. You can claim a stake now for as little as $500.

Trump Commutes Former Rep. George Santos' Seven-Year Prison Term: '... Has Been Horribly Mistreated'

President Donald Trump announced on Friday that he commuted the prison sentence of former congressman George Santos (R-N.Y.), ordering his immediate release.

Mark Cuban Shares His Top Strategies for Protecting Wealth After Hitting Millionaire Status

Mark Cuban once disclosed his strategies for preserving wealth after becoming a millionaire. These insights could be beneficial for anyone aiming to secure their financial future.

November 18: D-Day For The Dollar - Ad

A quiet shift in U.S. law has just authorized private companies to mint a new form of government-authorized money called the "Dollar 2.0"... and the next major mint hits on November 18. Investors who make the right moves before then could make up to 40X by 2032...

Nebius Vs. Palantir: The AI Infrastructure War At 100x Sales

Wall Street's AI mania has sparked a battle between Nebius (NBIS) and Palantir (PLTR) as investors question where the true value of AI lies.

America's Next Gold Rush Is Gaining Speed - Ad

Record gold prices. Major partners in Nevada and Arizona. Billions in potential resources. The next chapter in America's gold story may already be unfolding - and one U.S. company is at the center of it.

Trump approves Alaska mining road to boost copper, zinc production

WASHINGTON (AP) — President Donald Trump on Monday ordered approval of a proposed 211-mile road through an Alaska wilderness to allow mining of copper, cobalt, gold and other minerals.

Trump suggests US will buy Argentinian beef to bring down prices for American consumers

ABOARD AIR FORCE ONE (AP) — President said Sunday that the United States could purchase Argentinian beef in an attempt to bring down prices for American consumers.

VanEck and Kinross Both Have Their Eyes on This U.S. Gold Play - Ad

When a global fund manager and a $12B miner target the same domestic project, investors notice. Strategic deals and breakthrough drill results are fueling a surge of interest in this U.S. name.

Why Is BTQ Technologies Stock Up Today?

Shares of BTQ Technologies Corp. (NASDAQ:BTQ) are rising Thursday after the company announced that it reached a significant technological milestone.

The Tesla Shock Nobody Sees Coming - Ad

While headlines scream "Tesla is doomed"...Jeff Brown has uncovered a revolutionary AI breakthrough buried inside Tesla's labs. One that is helping AI escape from our computer screens and manifest itself here in the real world all while creating a 25,000% growth market explosion starting as early as October 23rd.

Indiana University fires student newspaper adviser who refused to block news stories

Tension between Indiana University and its student newspaper flared this week with the elimination of the outlet's print editions and the firing of a faculty adviser, who refused an order to keep news stories out of a homecoming edition.

Trump Says He Wasn't Happy India Was Buying Russian Oil And Now Modi Has Agreed To Stop Doing It: 'Big Step'

President Donald Trump has said that Indian Prime Minister Narendra Modi has agreed to halt his country's purchase of Russian crude oil, a move that could have a significant impact on Moscow's ongoing war in Ukraine.

On October 16, a powerful new law signed by President Trump will trigger a radical shift in America's money system... - Ad

When a small group of private companies - not the Fed - will perform a major mint of a new kind of money. And those who act before this new system fully kicks in could see gains as high as 40X by 2032. But those who fail to prepare will be blindsided by this sea change to the U.S. dollar.

Tesla Diner Served 50,000 Burgers Last Quarter, While The Company Saved 842 Million Liters Of Gas

Tesla shares stats of its Supercharger locations and its Tesla Diner for the third quarter. A look at some of the surprises and daily rates.

Magnolia Oil & Gas Gets Upgrade On Strong Finances, Brighter Oil Outlook

KeyBanc raised Magnolia Oil & Gas to Overweight with a $29 target, citing a defensive profile and disciplined growth outlook.

Buy This Stock Before Tesla's November 6 Announcement - Ad

Elon Musk just made his biggest insider purchase of Tesla stock ever. He's preparing for a "mind blowing" new launch that could see Tesla move away from electric cars... and into a new market. If his plan succeeds, this is the stock to own.

From Spice Girl to fashion mogul, Victoria Beckham grabs the chance to tell her own tale

NEW YORK (AP) — Now here’s something you might not quite believe glam Spice Girl turned high-profile fashion designer: At theater school, they purposely put her in the back row. Because she was too heavy.

China shows no sign of backing down while issuing call for US to withdraw tariff threat

BANGKOK (AP) — China did not back down Monday in a back-and-forth with the U.S. over trade, calling for U.S. President Donald Trump to withdraw his latest threat of a 100% tariff and other export control measures announced over the weekend.

Buy This Stock Before Optimus Goes Live - Ad

Get ready for the biggest pivot in corporate history. Tesla insiders are preparing for a dramatic new product launch - not driverless cars - that could change everything. You're running out of time to prepare.

FAA Faces Furlough Of 11,000 Employees, Airlines Warn Of Delays Amid Shutdown Threat

11,000 FAA employees face potential furloughs due to government funding lapse. ATC and TSA workers would work without pay.

Trump's immigration crackdown weighs heavy on the US labor market

Maria worked cleaning schools in Florida for $13 an hour. Every two weeks, she’d get a $900 paycheck from her employer, a contractor. Not much — but enough to cover rent in the house that she and her 11-year-old son share with five families, plus electricity, a cellphone and groceries.

Gold's Rally Is Rewriting America's Financial Story - Ad

As inflation lingers and governments wobble, gold keeps breaking records - and U.S. supply is suddenly back in focus. One domestic gold play is riding this trend on multiple fronts.

Senate confirmation of Trump nominee cements his shake-up of top civil rights agency

The Senate confirmed President Donald Trump's pick to fill a critical vacancy at the top agency for worker rights, restoring it to the full power needed to deepen his overhaul of civil rights enforcement.

Judge temporarily blocks the Trump administration from firing workers during the government shutdown

SAN FRANCISCO (AP) — President Donald Trump’s administration for now must stop firing workers during , a federal judge ordered on Wednesday.

This Coin Could Be Like Buying Bitcoin in 2017 - Ad

One of Bitcoin's biggest supporters on Wall Street is moving away from Bitcoin and into this special crypto. He even called this new coin, "the preferred choice for Wall Street."

NIO Stock Soars Past 52-Week High After Record Deliveries

NIO stock rises on strong September and Q3 deliveries, reaching record numbers and surpassing 52-week high.

Apple iPhone 17 Pro, Pro Max Ship Times Stay Stable Globally: Analyst

Apple's iPhone 17 Pro and Pro Max maintain stable lead times globally, while the iPhone Air is widely available. Analyst maintains Buy rating with $270 price target.

Elon's New Device Could Launch Biggest IPO of the Decade - Ad

Elon Musk's new device is being called a "game-changer"-and even the White House is using this tech. Jeff Brown says it could launch Musk's next trillion-dollar company and make early investors rich. You can claim a stake now for as little as $500.

LendingTree CEO and founder Doug Lebda dies in ATV accident

NEW YORK (AP) — LendingTree CEO and founder Doug Lebda died in an an all-terrain vehicle accident over the weekend, the online loaning platform said Monday.

Nvidia Reportedly Bets $2 Billion On Elon Musk's xAI — And Its Own GPUs Will Fuel 'Colossus 2' Gigawatt-Scale AI Supercluster

Nvidia Corp., led by Jensen Huang, is reportedly investing up to $2 billion in Elon Musk's xAI as part of a $20 billion funding round to expand the company's Colossus 2 AI data center in Memphis, deepening ties between two of the most influential players in the global AI race.

November 18: D-Day For The Dollar - Ad

A quiet shift in U.S. law has just authorized private companies to mint a new form of government-authorized money called the "Dollar 2.0"... and the next major mint hits on November 18. Investors who make the right moves before then could make up to 40X by 2032...

Can a Taxable Account Beat a 401(k)?

Being advised to max out your 401(k)is Personal Finance 101. But is that universally solid guidance?

Trending Now

Information, charts or examples are for illustration and educational purposes only and not for individualized investment management This message contains commercial elements, such as advertising. We only send these offers to those who have opted in to our newsletter. Past performance is not indicative of future results. For these reasons we strongly suggest trading in a DEMO/Simulated account. The information provided by us is for educational and informational purposes only. We make no representations or warranties concerning the products, practices or procedures of any company or entity mentioned or recommended and have not determined if the statements and opinions of the advertiser are accurate, correct or truthful. If you use, act upon or make decisions in reliance on information contained or any external source linked within it, you do so at your own peril and agree to hold us, our officers, directors, shareholders, affiliates and agents without fault.

Copyright markethundred.com
Privacy Policy | Terms of Service