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Cuts to investment in diversity threaten gains

US businesses are cutting back on their investments in diversity and inclusion as fears of recession grow, risking reversing the progress made since George Floyd's murder in 2020.

  • In 2022 the number of companies with staff reporting access to diversity programmes fell to 41% after two years of gains according to employer review website Glassdoor.
  • In 2021 271 US companies pledged $67bn towards racial equity work.
  • The share of companies with at least one person of colour on their boards grew from 32% in 2020 to 35% in 2022.
  • Research found that many popular diversity programmes, such as sensitivity training and cultural celebrations, do little to reduce discrimination in the workforce.
  • Women and Latino employees were hit hardest in last year's tech job cuts.
Cuts to investment in diversity threaten gains
Reducing funding and staff could undermine progress since George Floyd’s murder