Costco shuts down shareholders demand to ditch DEI hiring practices
1 week, 5 days ago

Costco shuts down shareholders demand to ditch DEI hiring practices

The Independent  

The latest headlines from our reporters across the US sent straight to your inbox each weekday Your briefing on the latest headlines from across the US Your briefing on the latest headlines from across the US SIGN UP I would like to be emailed about offers, events and updates from The Independent. The Costco board replied to a number of shareholders, recommending a vote against a proposal to “report on the risks of maintaining DEI efforts,” Newsweek reported. Shoppers reach for items on display in a Costco warehouse Nov. 19, 2024, in Lone Tree, Colo. Its board has rejected a proposal from some shareholders to remove DEI policies “It’s clear that DEI holds litigation, reputational and financial risks to the Company, and therefore financial risks to shareholders,” the proposal stated. “And yet Costco still has such a program, though it was apprehensive enough to recognize this as it recently and quietly rebranded its DEI program to ‘People and Communities.’” The board noted that it “regularly evaluates” the procedures the firm uses to comply with “the law including evolving Supreme Court decisions." “We believe that our diversity, equity and inclusion efforts are legally appropriate, and nothing in the proposal demonstrates otherwise,” the board added.

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History of this topic

Hiltzik: Costco is bucking the right wing's anti-DEI campaign
1 week, 1 day ago

Hiltzik: Costco is bucking the right wing's anti-DEI campaign

LA Times  

It has long been clear that relying on corporate leaders to stand fast for social and economic progress is a mug’s game. The meeting agenda includes a shareholder resolution proposed by the right-wing National Center for Public Policy Research, insinuating that Costco’s DEI program “holds litigation, reputational and financial risks to the Company, and therefore financial risks to shareholders.” The …

Costco hits back at right-wing think tank push to cripple its diversity program
1 week, 5 days ago

Costco hits back at right-wing think tank push to cripple its diversity program

Raw Story  

An activist group of shareholders backed by a right-wing think tank are trying to pressure the bulk wholesaler club store Costco into dropping its diversity, equity and inclusion policies — but the company is pushing back — hard, reported CNN on Friday. According to the report, Costco's board of directors "unanimously recommended that its shareholders vote against a proposal brought …

Black Caucus issues new guidelines for DEI policies and urges firms to help reduce racial wealth gap
3 months, 4 weeks ago

Black Caucus issues new guidelines for DEI policies and urges firms to help reduce racial wealth gap

Associated Press  

WASHINGTON — Corporate policies meant to advance diversity and inclusion in the workplace are legal and should be expanded to promote broad economic prosperity and reduce racial wealth inequities, according to a new report by the Congressional Black Caucus. “In the wake of the death of George Floyd, corporations pledged $50 billion to racial equity and strengthening DEI policies,” said …

Black Caucus issues new guidelines for DEI policies, urges firms to help reduce racial wealth gap
4 months ago

Black Caucus issues new guidelines for DEI policies, urges firms to help reduce racial wealth gap

LA Times  

Gen. Keith Ellison, center, speaks with Rep. Ilhan Omar and members of the Congressional Black Caucus as they visit the site of George Floyd’s death in south Minneapolis in 2020. “In the wake of the death of George Floyd, corporations pledged $50 billion to racial equity and strengthening DEI policies,” said Rep. Steven Horsford, chair of the Congressional Black Caucus, …

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