CV NEWS FEED // Diversity equity, and inclusion (DEI) officers in companies across the nation have been vacating their positions.
Disney, Netflix, Warner Bros Discovery, and the Academy of Motion Picture Arts and Sciences all lost diversity and inclusion executives in recent weeks.
Companies offered billions to support “diversity” efforts in recent years. Chief diversity officers were the fastest-growing executive function in US corporations between 2019 and 2022, according to LinkedIn. The role was originally popularized following George Floyd’s death in 2020, with DEI roles increasing nationally by 55%, according to NBC.
By creating DEI positions, companies hoped to do more for minorities following the alleged discovery of “systemic racism”. According to NBC’s report, however, black people “represent only 3.8% of chief diversity officers overall, with white people making up 76.1% of the roles. Those of Hispanic or Latino ethnicity make up 7.8% and those of Asian ethnicity make up 7.7%”
DEI roles decreased by 33% by the end of 2022, and the Financial Times reports that over the past year, the number of diversity officers being hired decreased by 4.5%.
Revelio Labs recently conducted a study of attrition rates within DEI departments, and discovered 300 DEI positions were vacated in the past 6 months. At over 600 companies, DEI attrition rates have far “outpaced those of non DEI roles.”
Companies such as Twitter, Amazon, Nike, Glassdoor, Wells Fargo, and American Airlines were named by the study.
