By Bobby R. Henry, Sr.
Compounding this internal decay is the systematic dismantling of Diversity, Equity, and Inclusion (DEI) initiatives across major U.S. corporations and institutions. Once heralded as steps toward a more equitable society, these programs are now being rolled back under political and economic pressures.
In 2025, major U.S. corporations are withdrawing financial support from LGBT Pride events, reflecting a national shift away from DEI initiatives under President Trump’s administration. Organizers of prominent Pride events in cities like New York and San Francisco have reported losing $200,000 to $300,000 each in sponsorships, with companies such as Mastercard, PepsiCo, Citigroup, and Nissan pulling out. Anheuser-Busch also ended a 30-year relationship with St. Louis Pride Fest. Smaller Pride events in rural areas like Indiana have been especially hard-hit, losing up to 90% of sponsorship.
Rolls-Royce, the UK-based aerospace and defence company, has ended its formal DEI programs across its global operations. This move comes amid increasing political pressure from the Trump administration and new US anti-DEI legislation. The company informed staff that support for employee inclusion networks, which catered to minority groups such as LGBTQ+ employees, will be withdrawn. These groups can continue to meet informally but will no longer receive company funding or visibility on internal platforms.
References to DEI in corporate America have declined sharply, reflecting a broader retreat from such programs amid political and legal pressures. An analysis by The Washington Post found that mentions of DEI in S&P 500 companies’ 10-K filings fell to an average of four in 2024, down from a peak of 12.5 in 2022. This decline follows the U.S. Supreme Court’s 2023 ruling against affirmative action in college admissions and subsequent conservative activism targeting DEI initiatives. Many companies are rebranding efforts to reduce politically charged language, replacing terms like “diversity” and “equity” with “belonging” and “inclusive workplaces” to avoid controversy.
Goldman Sachs has removed race-specific language, including references to “Black,” from its diversity initiative web pages, particularly those promoting its “One Million Black Women” and “Black in Business” programs. Originally launched in 2021 with a $10 billion investment and $100 million in philanthropy aimed at supporting Black women, the initiative has been reframed in broader economic terms, such as “growth and opportunity,” amid increasing legal scrutiny and DEI rollbacks.
Prominent banks including Goldman Sachs, Morgan Stanley, Huntington, and Citigroup are scaling back on DEI efforts, both in terms of public facing mentions of DEI and internal programs focusing on diversity. In JPMorgan Chase’s annual regulatory filing for 2024, the company said it “has been and expects that it will continue to be criticized by activists, politicians, and other members of the public concerning business practices or positions taken by JPMorgan Chase with respect to matters of public policy (such as diversity, equity and inclusion initiatives).”
On Jan. 6, 2025, McDonald’s released a statement to company employees, suppliers and operators summarizing their 2024 success and changes for 2025. These changes include ceasing their set representation goals, pausing external surveys to focus on internal work, and retiring the supply chain’s mutual commitment to DEI pledge. McDonald’s is focusing on changing its language and stating that “inclusion” is one of its core values.
In August 2024, Lowe’s sent an internal memo revealing that it will be scaling back its DEI goals. Some of those changes include axing individual employee groups representing diverse identities at the company and putting them all under “one umbrella organization.” Lowe’s also withdrew participation in the Human Rights Campaign survey, which tracks LGBTQ+ corporate policies and practices. It also said that it will not support certain community events, such as festivals and parades, that are not aligned with its top three philanthropic focus areas.
This systematic rollback of DEI initiatives is not just a corporate trend; it’s a reflection of a broader societal shift away from inclusivity and equity. As we dismantle these programs, we risk unraveling the progress made toward a more just and equitable society. The erosion of DEI efforts signals a retreat from the values of diversity and inclusion that are essential to the strength and unity of our nation.
We must recognize that the dismantling of DEI programs is not an isolated corporate decision but a symptom of a deeper national fracture. It is imperative that we confront this reality and recommit to the principles of equity and inclusion that bind us together as a society.
