The diversity, equity, and inclusion dominoes continue to fall, and Citigroup became the latest to tumble.
CNBC reported that Citigroup CEO Jane Fraser sent a companywide memo Thursday, stating that it no longer require a diverse slate of candidates for job interviews, that it would only set “aspirational representation goals” where required by local law, and that it would change the name of its team from “Diversity, Equity and Inclusion and Talent Management” to “Talent Management and Engagement.”
“It is important to note that we’re living in an environment where things are changing quickly,” she wrote in the memo, adding that the company will continue to follow “the best practice of having a variety of perspectives included in hiring decisions.”
Fellow Wall Street firm Goldman Sachs said last week that it would no longer require at least two diverse board members in companies that it guides through initial public offerings in Europe and the U.S., CNBC reported.
The two financial firms join several other large companies to scale back their DEI initiatives thus far in 2025, such as Google, Target, Amazon, Meta, and McDonald’s.
The trend began last year with several major brands.
