(Reuters) – Residence enchancment retailer Lowe’s (NYSE:) has scrapped a few of its variety, fairness and inclusion (DEI) applications, changing into the most recent U.S. agency to switch such insurance policies meant to spice up racial and ethnic illustration.
Lowe’s will not take part in surveys for Human Rights Marketing campaign, an advocacy group supporting transgender rights, and can be combining its numerous enterprise useful resource teams that symbolize numerous staff into one umbrella group, an inner memo obtained by Reuters on Monday confirmed.
The corporate won’t be sponsoring or collaborating in group occasions resembling parades, festivals, or gala’s and may additionally make further modifications to the insurance policies over time, in response to the memo, which was confirmed by an organization spokesperson.
Over the previous few years, U.S. corporations together with JPMorgan Chase (NYSE:) have confronted a bigger conservative backlash towards variety initiatives which multiplied after widespread protests following the police killings of George Floyd and different Black People in 2020.
The protests spotlighted racial and gender disparities in company management.
Some corporations have obtained public shareholder letters since 2021 claiming their DEI applications represent unlawful discrimination and a breach of administrators’ duties to buyers.
Teams against variety insurance policies have additionally been energized by the U.S. Supreme Court docket ruling in June 2023 that struck down affirmative motion in college admission selections.
Lowe’s started reviewing its variety and inclusion applications across the identical time, the memo confirmed.
