American companies drop DEI from annual reports as Trump targets corporate values

Hundreds of American companies have removed signals to “diversity, fairness and integration” from their annual reports in a rapid decline in the values ​​of companies that have become a target for the administration of President Donald Trump.

More than 200 of the largest companies in America gave signals from Dei and relevant terms such as “diversity”, according to FactSet data and company files analyzed by The Financial Times.

Among the best 400 companies in the S&P 500, 90 percent of the one that submitted an annual report since it reduced the election of Trump at least some references to the Dei, with many completely eliminating the term.

The numbers, which are related only to annual reports covering the financial years of companies that have ended since the elections, confirm the speed and size of the Trump Crusader campaign on what he described as “illegal and immoral discrimination programs.”

In addition, many companies no longer include statistics that cut their power operating by race or drop signals into prizes for Dei initiatives or internal convergence groups, such as black professionals networks.

Separate data on the website’s recruitment site already shows that American job publications with DEI titles have decreased in half since its peak in mid -2012, while some companies canceled diversity programs.

The number of companies that chose not to refer to Dei, or their individual components such as diversity, in their latest annual reports much outperforming those that have publicly announced changes to the policies or values ​​of the workplace.

MasterCard, Salesforce, S& P Global, Palantir and American Express are among the companies that changed the language they used on diversity among the annual deposits published in 2024 and 2025.

Instead, many companies confirmed “inclusion” or “belonging”, saying that they want a culture in which “all employees” flourish.

In a statement of FT, Salesforce said it has been committed to “its long -essential value of equality.” Other companies did not respond to the requests for suspension or refused to comment.

The company’s file analysis shows that the president’s attack on Dei has led to a widespread decline by companies from discussing the initiatives of diversity and integration with the impulsivity of executives to evaluate whether the programs will be canceled or modified.

Within days of taking office in January, Trump signed executive orders to ban “discrimination” in federal agencies, and asking federal government contractors to ratify that they do not manage inclusion programs that violate federal discrimination laws.

Orders have not clearly determined the types of policies that the administration sees as illegal, leaving companies to assess how compliance. Deloitweth told the employees of the US government consulting department Remove sex consciences From their email signatures, for example.

Joel Emerson, CEO of Paradigm, a software and consulting group that advises companies to culture and comprehensiveness, said that CEOs are looking at the initiatives and programs of the open supplier diversity only in front of specific groups, such as women’s guidance plans, just as they carry the highest risk.

Trump also directed federal agencies to identify “possible civil compliance investigations” in the companies circulating for the public and other institutions as part of a plan to deter Dei programs that constitute “discrimination or illegal preferences.”

Emerson said this has created a “chilling effect” throughout American companies, as companies spend a lot of time trying to explain the government’s plans “to the point that they stopped doing things that are in their own interest and are completely legal of fear.”

Luke Hartege, president of Consultance Gravity Research, who advises companies regarding the reputation concerns, said that the threat of investigations into Dei initiatives was causing “serious concern” executives and was “number one” at night.

Even before Trump was elected, at least 20 companies on S&P 500 removed some Dei’s terms in the annual deposits published between 2021 and 2024, according to FT analysis.

In the latest annual file, it was published last month, META included a section heading: “Our workforce strength and people’s operations. Previous annual reports used various titles such as “diversity, fairness and integration” or “a varied and comprehensive workplace.

right Activists pressed companies to stop diversity programs, as it targeted Walmart and Harley-Davidson activists last year.

Progressive also criticized some Dei’s initiatives to enhance diversity superficially without improving equality or significantly representing the disadvantaged groups.

But supporters say that the programs help improve the opportunities and job progress of groups that have been represented historically an imperfect representation while enhancing business performance.

While many companies were executing signals to Dei, some added a language to confirm the merit -based recruitment. This includes Morgan Stanley, who published the last annual file, which was published last month: “The merit is at the heart of the development of Morgan Stanley’s talents.”

Some companies continued to follow up on diversity and stock initiatives though OppositionLike Costco, whose shareholders have recently voted to continue the company’s policies.

Chuck Robbins, CEO CICO Communications Group and head of the influential table for American companies, has led to a strong defense of Dei’s initiatives for his company in January, although the group dropped a reference to “diversity” in the latest quarterly files in February.

He told Axios in January: “You cannot argue with the fact that the various workforce is better,” he told Axios in January. “There is a lot of work value.”

Imagine additional data by Jana Tauschinski and reporting Chris Cook