What happened to companies’ commitment to DEI?

On the latest episode of ‘The New Way We Work,’ we discuss what happens when companies cut their DEI departments to save money.

In 2020, companies worldwide spent about $7.5 billion on diversity, equity, and inclusion-related efforts, and that figure has grown every year since, with McKinsey projecting that it will double to $15.4 billion by 2026. Yet at many companies, progress to increase inclusion and diversity has been slow or nonexistent. Now, with news of layoffs across industries, there are signs that we may be poised to backslide. At Twitter, for example, the DEI team has reportedly been cut from about 30 to just 2 employees, and there’s evidence that many other organizations have quietly trimmed the roles responsible for doing this work.

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