We've been stating for several months that the "diversity, equity, and inclusion" and "environmental, social, and governance" gravy trains on Wall Street have peaked and are coming to an abrupt end. Who would have thought the profit motive would be incompatible with mindless, unproductive virtue signaling and reverse racism?
The unraveling of DEI initiatives across corporate America is full steam ahead after Business Insider revealed Microsoft has laid off an internal team focused on DEI.
In an email viewed by BI, a Microsoft "team leader" told employees, "True systems-change work associated with DEI programs everywhere are no longer business critical or smart as they were in 2020."
The email states that the team was eliminated due to "changing business needs" as of July 1. The number of affected employees remains unclear.
DEI was doomed to fail, and corporations have been quickly scrambling to abandon mindless and profitless woke programs. Data from AlphaSense shows 1Q "DEI" mentions have collapsed from their peak in 2021.
"We're past the peak," Subha Barry, former head of diversity at Merrill Lynch, told Bloomberg in March. This comes as the growing anti-DEI crusade among conservatives gains incredible momentum, with Elon Musk and former President Trump pushing back against wokeism.
In recent weeks, conservative commentator and filmmaker Robby Starbuck has managed to force Tractory Supply to nuke its woke programs while simultaneously forcing John Deere to pull back on DEI initiatives.
Many companies across corporate America were guilted into woke spending and hiring after George Floyd died in 2020.
Tucker Carlson pointed out last fall that Floyd was an ex-con who died in police custody with an elephant dose of fentanyl in his system and had a history of health issues.
Carlson's view on Floyd's death is drastically different than that of leftist corporate media.
Microsoft was one of those companies pressured into DEI spending and hiring after Floyd's death. But four years later, the big tech firm, as well as others, such as Zoom, Google, and Meta, have also reduced or cut DEI programs.
Microsoft spokesperson Jeff Jones told BI, "Our D&I commitments remain unchanged," adding, "Our focus on diversity and inclusion is unwavering, and we are holding firm on our expectations, prioritizing accountability, and continuing to focus on this work."
The growing DEI backlash will only intensify if former President Trump wins the presidential election this fall.