Barclays Abandons US Diversity Targets Amid Trump Pressure

Barclays has announced it will abandon its diversity, equity, and inclusion (DEI) targets for its US operations, following a review that reflects the changing political climate under Donald Trump's administration. Chief Executive C. S. Venkatakrishnan stated that while specific US representation goals will be discontinued, the bank will maintain its DEI ambitions in the UK and globally. This decision reverses previous commitments, including a goal for 33% of director and managing director roles to be held by women and a 50% increase in ethnic minority executives. Barclays indicated that the review began before Trump's election and is still ongoing, emphasizing its adherence to local requirements while remaining committed to inclusivity. The move aligns with a broader trend among companies scaling back DEI initiatives in the US due to political pressures. Critics view this as a setback for diversity efforts in the corporate sector.