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(Personally, I don't use or avoid companies based on their DEI policy or lack thereof.)
Yes the entire team (divison) was fired.
The company is following another business route and hence everybody was fired.
Obviously, if you don´t need x or y employee, because you don´t use said service anymore then its perfectly fine. I am sure the employee´s was compensated and can find work in other companies or as a new job within the company.
In my opinion its odd to even have a DEI team when you already have HR.
HR have always (long before people talked about DEI) done much of the same as a DEI team would, its just that the HR employee´s are often better educated and are multi functioning.
The vast majority of companies made their own EGS scores via their DEI teams. IE. we have examples of companies that do massive damage to the enviroment, but scores higher than a company that does the opposite... its kinda a joke within the investment circles.
If I don´t remember wrong BP have a high EGS score ie.... BP !!!!!
Anyway.. I welcome this change, hopefully it sends shockwaves down other sectors as well and instead starts to focus on actual proper enviromental focuses and worker protection.
I was predicting a decade of continued pressure before the massive corps stopped pushing racism and mutilation.
Its only been like 3 years, grow some balls microsoft.
You are to some extend correct, as some of them will just become HR or the HR will take over.
But I still think this puts out a signal and it makes sense given the current climate in BlackRock and Vanguard.
DEI employees *are* HR employees.
They are HR employees who specialise in a specific branch of HR. It's possible to disband DEI and reintegrate those who specialised in it back into generic HR.
Lindsay-Rae McIntyre who was at one point I think chief of DEI at Microsoft was the HR lead at IBM for decades before she joined Microsoft.
That's the thing. There's no signal. No real change happening.
As said earlier. most well educated HR employee´s (I reckon in the US its a master degree or well maybe even only bachelor, here most would have a candidate) would already cover the area that people call DEI.
But I assume that when all the focus is on the DEI, then you also lose track of many other important aspects of HR. I also assume that some of the people that have low degree (diploma or bachelor) centered around DEI stuff (the US have that right? we don´t or rather we have it structured within some educations where you can take it as a course) they might not be renewed.
But overall.. its just everybody leaving the DEI terminology.. BlackRock said they think the term had become to political polarized and they did not want anything to do with that.
Personally I still think this will end up changing various things, such as hiring practices and so forth. Its been really odd the way the US have handled things lately.
I do think we will see small changes.
BlackRock seems to wanna focus more on the E in the DEI in terms of investments and I think many large corpos are tired of various factors within the DEI spectrum.. it has felt forced and without much point.. some have just "cheated with it" some have just done quota ticking as well.
But overall the change will most likely just be more "hidden" and non "public" as that is where all the backlash have been from