Walmart Faces Backlash Over DEI Policy Rollback

More than 30 shareholders, representing $266 billion in assets, are urging Walmart to justify its recent rollback of diversity, equity, and inclusion (DEI) initiatives, which they label as a disheartening concession to anti-DEI pressures. The shareholders, including organizations like Amalgamated Bank, have called for a meeting with Walmart's leadership to express concerns over the potential risks of discrimination and the negative impact on the company's customer base. This shift, announced in November, includes the cessation of considering race and gender in supplier contracts and the discontinuation of various DEI programs. Concurrently, 13 state attorneys general have criticized the decision, arguing that it undermines previous commitments to diversity and could alienate customers and employees. They contend that the changes, influenced by political pressures, are not mandated by law and could harm Walmart's reputation and financial performance. Walmart, while acknowledging the backlash, maintains that its adjustments aim to foster a sense of belonging for all stakeholders.