Business
How Companies Like J&J, Live Nation and Uber Retreating From DEI Programs
Household-name companies, like Walmart and Meta, have scaled back diversity, equity and inclusion goals in recent months. These brands are part of a widespread retreat happening across corporate America, according to a New York Times analysis of annual financial filings. It has been as noticeable among tech giants as among drug makers, concert promoters and nearly every sector of the U.S. economy.
So far this year the number of companies in the S&P 500 that used the language “diversity, equity and inclusion” in these filings has fallen by nearly 60 percent from 2024.
Source: Securities and Exchange Commission
The Companies That Mentioned ‘Diversity, Equity and Inclusion’ Each Year
Seventy-eight percent of companies — 297 out of the 381 that have filed their reports so far this year — continue to discuss various diversity and related initiatives, according to the Times analysis, which examined a decade of financial filings known as 10-Ks that public companies submit each year to the Securities and Exchange Commission.
But many of them have softened or shifted previous language, by removing the word “equity,” for example, or emphasizing “belonging” rather than D.E.I.
Major corporations began to shy away from taking strong stances on D.E.I. before President Trump re-entered office, but the trend accelerated rapidly after.
These filings aren’t the only reflection of what companies are doing, or declining to do, to promote diversity, equity and inclusion — but they offer one view of changing stances in the words of the companies themselves. Plenty of language in these filings changes from year to year, though the Times analysis focused specifically on language about D.E.I.
In some ways, the shift reflects a pattern of companies chasing what seems most socially and politically expedient. After the killing of George Floyd in May 2020 and the Black Lives Matter protests that followed, many companies denounced racial injustice.
By 2022, over 90 percent of the S&P 500 had language about D.E.I. in their annual filings. Uber, for example, “committed to becoming an anti-racist company.” Best Buy wrote in a quarterly regulatory filing that “in the wake of George Floyd’s death” the company would strive to “address racial inequities.”
By 2024, the social pressure had started to reverse — “critical race theory” was labeled by some senators as “activist indoctrination,” and many states took steps to restrict D.E.I. programs at universities. This backlash was accelerated by a Supreme Court decision in 2023 that struck down affirmative action in college admissions. While that decision was not directed at corporations, some law firms began to face lawsuits over fellowships that were open only to marginalized groups, and other employers started to pay more attention.
Mr. Trump then took direct aim at corporations. Soon after his inauguration in January, he issued an executive order that instructed federal agencies to investigate “illegal D.E.I.” in the private sector. He changed the staffing and leadership of the Equal Employment Opportunity Commission, which enforces the country’s anti-discrimination laws, putting in place an acting chair who said her priorities included “rooting out unlawful D.E.I.-motivated race and sex discrimination.”
Lawyers who have been helping companies navigate the new legal landscape said that some executives were worried about public disclosures on diversity efforts. Company leaders might want to keep their diversity initiatives in place, but realize that describing D.E.I. goals in public documents, like 10-Ks, could prompt scrutiny or government investigation. So some have found ways to hedge or otherwise tweak the language they use to make it more vague.
Used the same language about employee resource groups from 2021 to 2024.
Added in 2025
Dow’s 10 ERGs represent a workforce rich in diversity of thought, perspectives and backgrounds
Used language about historically black colleges and universities from 2021 to 2024.
Added in 2025
We take action to improve the hiring, retention and promotion of a more diverse workforce that reflects Adobe’s global footprint. We invest in partnerships and events to grow our pipeline and engage candidates across underrepresented communities.
Dow Chemical and Adobe did not reply to requests for comment on the shift in language in their annual reports.
“You don’t want to provide a road map for critics to look into what you’re up to,” said Jon Solorzano, a partner at the law firm Vinson & Elkins who counsels companies on governance issues, including D.E.I. “Talking about it externally is now viewed as a riskier proposition, while continuing to talk about it internally is maybe less risky.”
Because executives were preparing their 10-K reports right as Mr. Trump took office, Mr. Solorzano noted, they were able to move quickly to drop public disclosures on D.E.I., though actually unwinding the programs will take more time. “There’s an annual review of 10-Ks, and the annual review happened to coincide with new fears,” he added.
Other D.E.I. experts noted that some companies are shying away from the term “equity” because it tends to attract more scrutiny than “diversity” or “inclusion.”
“The E in D.E.I. is the real problematic one,” said Musa Al-Gharbi, a sociologist and an assistant professor at Stony Brook University who has written extensively on diversity programs. “To actually achieve equity often requires policies that are alienating to a lot of stakeholders.”
Used the same D.E.I. language from 2021 to 2024.
Added in 2025
we focus on a culture that values all employees
Used the same D.E.I. language between 2021 and 2024.
Added in 2025
underpinning these focus areas are ongoing efforts to cultivate and foster a culture built on innovation, health, well-being and safety, inclusion and belonging where the company’s employees are encouraged to succeed both professionally and personally while helping the company achieve its business goals
Vertex Pharmaceuticals did not reply to a request for comment on the shift in its 10-K language on D.E.I. It still has a page on its website on the topic, something that other companies have also maintained — even as they have softened the language on it in their annual regulatory disclosures.
In a statement, a Johnson & Johnson spokeswoman said the company “has always been and will continue to be compliant with all applicable legal requirements and remains dedicated to the values in our credo.”
Given the mounting pressures from the Trump administration, it is perhaps surprising that hundreds of companies have maintained D.E.I. language in their 10-Ks this year. Delta Air Lines wrote: “Our commitment to diversity, equity and inclusion is critical to effective human capital management.” Arthur J. Gallagher & Company, the insurance brokerage, reported the share of its employees and managers who are “racially/ethnically diverse.”
(The New York Times, which is not in the S&P 500, shortened the section on diversity in its 10-K this year. Danielle Rhoades Ha, a spokeswoman for The Times, said: “We still have the same diversity and inclusion-related programs that we did last year.” She added: “Specific language in 10-Ks changes year to year.”)
Still, the pendulum is swinging away from D.E.I., many corporate lawyers say, and the momentum can be hard to resist. Companies often tend to follow the crowd, whether that means adopting a certain approach to management (think “agile”), a popular strategy on innovation (like “design thinking”) or a job title that many of their peers are suddenly adding (“chief of staff”).
But fads often have shallow roots, and companies might drop that practice as soon as it opens them to social critique or legal scrutiny.
“Companies will adopt these fads and fashions, and they’ll do it for legitimacy and reputation management purposes and never fully adopt it,” said Ranjay Gulati, a Harvard Business School professor. “Then it’s a self-fulfilling prophecy, because it doesn’t achieve their business goals so it goes out of fashion and they dump it.”
2021
In July 2020, we publicly committed to becoming an anti-racist company
2022
In July 2020, we announced 14 commitments to becoming a more anti-racist company
2023
In July 2020, we announced commitments to becoming a more anti-racist company
2021
The Company believes that diversity and inclusion is central to high employee engagement.
2022
The Company believes that diversity, equity and inclusion (“DE&I”) is central to high employee engagement.
2023
The Company believes that diversity, equity and inclusion (“DE&I”) is central to high employee engagement.
2024
The Company believes that diversity, equity and inclusion (“DE&I”) is central to high employee engagement.
2021
In July 2020, in response to events in the U.S. and around the world that sparked overdue reflection on racism and discrimination in our societies, we announced ambitious goals to strengthen the company’s diversity from the top down that we will strive to obtain by the end of 2025
2022
We remain committed to reaching the ambitious goals we set to strengthen the company’s diversity from the top down
2023
We remain committed to reaching the ambitious goals we set to strengthen the company’s diversity from the top down
2024
We remain committed to making continuous progress toward our ambitious representation goals — to strengthen the company’s diversity from the top down
DuPont declined to comment and Uber did not reply to a request for comment.
A spokesperson for Live Nation wrote in a statement: “While the legal landscape may be evolving, our commitment to inclusivity and Taking Care of Our Own will always remain at our core.” Some of Live Nation’s previously announced diversity goals stated 2025 as the target year to reach them, and previous 10-K documents had said the company was making progress toward achieving them.
An additional factor in the pullback, lawyers say, is some executives’ realizing that they might have set goals in 2020 or 2021 that they cannot achieve without aggressive D.E.I. efforts that might be targeted with lawsuits or investigations in the coming months.
Since President Trump took office, the E.E.O.C. has made clear that it intends to investigate what it sees as D.E.I. overreach, which could include specific targets for hiring employees of underrepresented groups, or executive bonuses tied to meeting those goals.
“Some goals based on race and gender that were set during the Biden administration were not reflective of availability in the work force, potentially operating more like a quota than a good faith placement goal,” said Craig E. Leen, a partner in the employment practice at the law firm K&L Gates. “Some employers are realizing that the goals are not attainable in a legal manner and are therefore resetting expectations.”
To some D.E.I. proponents, the speed of the reversal has underscored the shallowness of some of the initial commitments. “As you’re seeing companies pull back from these commitments, a lot of people are questioning how credible those commitments were in the first place,” Mr. Solorzano of Vinson & Elkins said.
Methodology
The New York Times analyzed a decade of 10-Ks for companies currently in the S&P 500, totaling 25,000 documents. The Times included companies that had submitted an annual report in 2025 as of March 8, which totaled 381 companies. Using custom code, The Times processed the filings with a combination of keyword searches and artificial intelligence tools to identify paragraphs related to diversity, equity and inclusion. Journalists manually reviewed the results to ensure the accuracy of the A.I. classifications.
The luxury shopping center in Pacific Palisades will reopen next month after more than $100 million in renovations forced by the January 2025 wildfire that devastated the Los Angeles neighborhood.
Palisades Village will reopen Aug. 15, owner Rick Caruso announced Wednesday. The outdoor center survived the blaze that destroyed homes and other businesses but needed refurbishment to eliminate contaminants that the fire could have spread.
Crews are putting finishing touches on mall buildings after tearing them down to the studs, treating the wood and rebuilding the walls, Caruso said.
“Everybody’s working, and stores are moving their products in,” he said. “It’s a really cool feeling that people have really locked arms and are working together.”
An electrician installs lighting for a restaurant at Rick Caruso’s Palisades Village on Thursday. The shopping center is scheduled to reopen mid-August.
(Myung J. Chun / Los Angeles Times)
Pacific Palisades resident Allison Polhill, who is rebuilding the home of 30 years that her family lost in the blaze, said she is “thrilled” at the prospect of returning to the mall she used to frequent. Its comeback is a boost for the community, she said.
“Every single step that we make to reopen our commercial corridors is going to bring more people back into the Palisades,” said Polhill, who expects to move back into her home at the end of August.
A total of 6,822 structures were destroyed in the Palisades fire, including more than 5,500 residences and 100 commercial businesses, according to the California Department of Forestry and Fire Protection.
Caruso previously attributed the mall’s survival to the hard work of private firefighters and the fire-resistant materials used in the mall’s construction.
The $200-million shopping and dining center opened in 2018 with a movie theater and a roster of upmarket tenants, including Erewhon, which may be the only grocer in the heart of the fire-ravaged neighborhood when it opens.
Caruso’s company was able to fill the mall with tenants despite the long shutdown.
Palisades Village is 99% leased, with the majority of tenants returning, said Jackie Levy, chief financial and revenue officer. Nearly one-third of the shops and restaurants are new to the property.
A firefighter carries a hose back to his rig while walking through a destroyed home from the Palisades fire in Pacific Palisades on Jan. 7, 2025.
(Genaro Molina / Los Angeles Times)
Last year, Pacific Palisades-based fashion designer Elyse Walker said she would reopen her eponymous store in Palisades Village after losing her 25-year flagship location on Antioch Street to the inferno.
Other neighborhood shops destroyed in the fire that are reopening at the mall include K Bakery and Loomey’s Toys, which caters to children up to age 12 and used to be across the street from Palisades Elementary Charter School.
“It’s been a journey and I’m excited because I wasn’t sure that there was going to be a place to come back to,” said toy store owner Amanda Rastegar. “Hopefully we can bring some of that magic back.”
Rastegar’s home in the Palisades survived but was damaged by the fire. The family returned about eight weeks ago. Her last memory of the fire was a burning supermarket.
“I just couldn’t wrap my brain around what was happening,” she said. “By the time I left, Gelson’s was on fire.”
Among the returning tenants is Angelini Ristorante & Bar. Well-known Los Angeles chef Gino Angelini said he will be in the kitchen next month for a return of the Italian restaurant.
“We won’t do a big celebrity open,” he said. “We want to have a very soft opening and see our customers come back.”
Construction takes place at Rick Caruso’s Palisades Village on Thursday. The shopping center is scheduled to reopen mid-August.
(Myung J. Chun / Los Angeles Times)
An elaborate celebration would not feel “correct for me,” Angelini said, because the devastation has been “very sad” for so many.
Other new tenants include local chef Nancy Silverton, who has agreed to move in with a new Italian steakhouse called Spacca Tutto. Women’s activewear retailer LESET will open its first West Coast location.
Caruso said he is optimistic that customers will return to the center, even though many Pacific Palisades residents are still dispersed. One tracking system estimated that about 30% of the Village’s customer base was impacted by the fire, he said.
“That means 70% did not get impacted, so there’s a lot of customers still left out there,” Caruso said. Historically, the center drew customers from as far away as Beverly Hills and Calabasas, as well as Malibu, Brentwood and Santa Monica.
He also hopes many will be inspired to visit the revived mall.
“I believe in the goodness of people and I believe that people are going to want to support the Palisades,” he said. “They’re going to want to be there and support the businesses that have had the courage and the heart to reopen.”
Walmart is rapidly expanding its network of electric vehicle chargers designed for customers to use while they shop.
The network could help fill gaps in EV infrastructure in states with greater need for chargers. Walmart, which has more than 5,000 locations in the U.S. and hundreds in California, says more than 90% of Americans live within 10 miles of one of its stores.
The chargers also offer an incentive for customers to choose Walmart — Walmart Plus members will receive a 10% discount off an average price of $0.46 per kilowatt-hour of energy at the company’s chargers.
Walmart chargers are already available at more than 75 locations in 17 states, with Texas boasting the most charging stations, followed by Florida and Arizona.
Matthew Nelson, Walmart’s director of energy policy, said last week on LinkedIn that the network will soon reach 29 states, including California.
“We are delivering on the promise of affordable, reliable and convenient charging,” Nelson said in his post.
According to Walmart’s website, six charging stations are coming to California soon, though the company did not offer a specific timeline.
The chargers will be installed at stores in Antelope, Brea, Fresno, Stockton, Suisun City and Vallejo.
Most charging sites in California will include eight to 16 fast-charging stalls, said Walmart spokesperson Kelsey Bohl.
The company first announced plans in April 2023 to install its own EV chargers at Walmart and Sam’s Club stores, with a goal of installing thousands of chargers by 2030. Partnering with ABB E-Mobility and Alpitronic, it added 25 new charging sites this past May and six more in June.
“Walmart is building a leading retail-integrated EV fast-charging network, focused on delivering an affordable, reliable and convenient charging experience where customers already shop,” Bohl said in an emailed statement. “Customers can charge while they shop, access stations through the Walmart app they already use, and benefit from affordable pricing.”
The charging stations already available include 612 individual charging stalls using 400-kilowatt chargers. Each stall has a dual charging cord with both Combined Charging System and North American Charging Standard connectors. The standard connectors, designed by Tesla, are smaller and lighter than the combined systems.
The primary way to pay for the chargers is through the Walmart app, but the company is also experimenting with built-in credit card readers to allow those without the app to use the stations.
Customers can check charger availability on the Walmart app. The company said the chargers will be available 24 hours a day.
Robotaxis could be turning into robocops.
A self-driving Waymo reported two teens to San Mateo, Calif., police on Monday after they were found drinking alcohol and shooting toy guns in the back of the vehicle.
According to a social media post from the San Mateo Police Department, officers detained two 15-year-olds after the Waymo they were riding in contacted the department and stopped in a parking lot until law enforcement arrived.
“Parents do you know where your teens are?” the San Mateo Police Department wrote on Facebook following the incident. “Waymo does!”
Officers removed both teens from the vehicle and determined they were using toy guns to shoot Orbeez out the windows. Orbeez are small, water-absorbing beads sold at toy stores.
“Toy guns, water guns, and BB guns all pose real dangers, especially to an untrained eye,” the Police Department said. “The simple handling of them can cause fear in [passersby].” “
A video posted on Facebook shows at least five officers and a police dog responding to the scene and approaching the Waymo with their weapons raised.
Waymo did not immediately respond to a request for comment.
Waymo vehicles have internal cameras and microphones that may be used in an emergency or to “promote safety and security,” according to Waymo’s online support page.
The cameras are also used to ensure the vehicles are clean and to help find lost items, according to the support page.
The company said it does not use facial recognition or other biometric identification technologies to identify individuals.
“In more urgent circumstances, support may access live video during a trip,” the Waymo page said.
The San Mateo Police Department’s Facebook post has garnered nearly 60 comments, with one user accusing Waymo of “snitching.”
“At least they got a designated driver?!” one user commented.
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