Walmart’s decision reduce its diversity, equity and inclusion The “DEI” programs were widely celebrated by conservatives, but some Democratic shareholders and officials are pushing back.

The retail giant joined a growing list of companies scaling back DEI initiatives in November following similar moves by big names like Harley-Davidson, John Deere and Tractor Supply. McDonald’s, Amazon, Meta and American Airlines have also since announced a change to their DEI policies as more companies follow suit.

While some investors hailed Walmart’s move as a step in the right direction, others are calling for the retailer to reconsider its exit from DEI. In a letter addressed to Walmart CEO Doug McMillon, a group of more than 30 people Walmart Inc. Shareholders, representing more than $266 billion in combined assets, asked the company to explain the business impact of abandoning DEI initiatives, calling the reversal “disheartening,” Bloomberg first reported. informed.

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Walmart unveiled its first logo redesign in nearly two decades on Monday. (Walmart Inc.)

“To see the company retreat from its stated values ​​and the business opportunities associated with a diverse and inclusive workforce is very disheartening,” he said. the signatories wrote. Additionally, Walmart has not offered a financial or business case for this policy change, but the company identified the advancement of ‘belonging, diversity, equity and inclusion’ as one of four priority ESG issues that ‘offer the greatest potential for Walmart to create value.”

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The shareholders, which include Amalgamated Bank, Investor Advocates for Social Justice and Mercy Investment, accused the retail giant of caving in “to harassment and pressure from anti-DEI groups” while ignoring pleas “to address the risks associated with racial inequality of a significant number of people.” its shareholders in the last two proxy seasons.”

Investors requested a meeting with Walmart’s senior management, urging them to consider a new commitment to “DEI strategies and programs that help reduce systemic biases and barriers, create inclusive workplaces, and advance the best talent”.

An employee assembles shopping carts at Walmart on July 22, 2020 in Burbank, California. – The country’s most populous state registered a record 12,807 new coronavirus infections in the last 24 hours. (ROBYN BECK/AFP via Getty Images) / Getty Images)

A group of 13 Democratic state attorneys general expressed a similar sentiment in another document letter sent to McMillon a day later The signatories, which include the attorneys general of New York, New Jersey, Maryland, Nevada, Rhode Island, Hawaii, Vermont, California, Minnesota, Maine and Connecticut, called on the retailer to explain how it will protect civil rights in the workplace and they chastised Walmart’s decision to roll back DEI policies.

“Threats to boycott, sue, or negatively impact Walmart’s bottom line may have contributed to your decision to abandon your DEI commitments. But we are concerned that Walmart failed to consider the other party: customers and employees that they will be alienated by this exit,” they wrote.

“These changes are bad for Walmart’s businesses and customer base, including those in our states,” the letter continues. “Especially in light of your previous statements about the critical values ​​of diversity and inclusion, we urge you to reconsider your announced changes.”

When reached for comment, Walmart told Fox Business: “We are the same company with the same values ​​with the same commitment to creating a sense of belonging for all of our associates, customers and members. We are focused on creating a Walmart for to everyone and we will continue to strengthen this commitment with our actions.”

CEO of Walmart USA and President John Furner He similarly defended the move in November during an appearance on “CBS Mornings” after the nation’s largest retailer confirmed it would make a series of changes, including removing transgender and sexual products from third-party merchants marketed by inappropriate manner for children from your online market.

He also said Walmart will stop funding the Center for Racial Equity, a nonprofit that Walmart launched in 2020 as a five-year initiative, and will drop the terms “LatinX” and “DEI” for complete in official communications.

The Walmart store is seen in Florida City, United States on May 6, 2024. (Photo by Jakub Porzycki/NurPhoto via Getty Images) (Jakub Porzycki/NurPhoto via Getty Images/Getty Images)

“Like many companies in the United States, we’ve been on a journey,” Furner said of the reversal. “We’re going to continue to take a journey. And what we’re trying to do is make sure that every customer, every associate feels welcome here in the store and feels like they belong.”

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Walmart will also no longer participate in the Human Rights Campaign’s Corporate Equality Index, a report that rates US companies on their policies for LGBTQ employees.

Kristine Parks of Fox Business contributed to this report.