- Citigroup became the latest company to walk back its diversity goals.
- The company is renaming its DEI team among other changes.
- CEO Jane Fraser outlined the shift in a memo to staff on Thursday.
Citigroup on Thursday became the latest company to walk back its diversity efforts amid growing political pressure to do away with such programs.
In a memo to staff on Thursday, CEO Jane Fraser said the New York City-based bank would rename its diversity, equity, and inclusion team, among other changes, amid a growing backlash over DEI since President Donald Trump took the White House .
The “diversity, equity, and inclusion and talent management” team will now be called “talent management and engagement,” the memo said.
The bank will also do away with “aspirational representation goals except as required by local law,” and no longer require slates of job candidates and panels of interviewers to be diverse, said the memo shared with staff.
Citi’s move follows similar moves by other large companie, including Amazon, Meta, Target, Walmart, and Goldman Sachs.
