Verizon discontinuing diversity, equity, and inclusion initiatives amidst pursuit of FCC approval for Frontier merger agreement
Revised and Rewritten Article
Verizon's DEI Programs Bite the Dust
Verizon Communications ain't playing around with diversity, equity, and inclusion (DEI) anymore. They've announced the axing of most of these initiatives, and it's all tied to the FCC's scrutiny as they're trying to secure the green light for their $9.6 billion acquisition of Frontier Communications.
FCC chair, Brendan Carr, had a bone to pick with Verizon back in February, slamming their DEI programs. He hinted that these programs might just be a deal-breaker for the Frontier merger.
Verizon isn't mincing words either. They've confirmed that they're chunking their "Diversity and Inclusion" website and scrapping any DEI references in employee training. They're also making some major changes to hiring, career development, supplier diversity, and corporate sponsorship practices.
Apparently, they're gonna drop any workforce diversity goals and ditch compensation elements linked to increasing minorities and females in management[2][3].
This blow from Verizon follows Carr's concerns about DEI practices potentially leading to discrimination, which could, in turn, jeopardize the Frontier deal[3]. The FCC gave Verizon the thumbs-up for the Frontier purchase after they made these changes[2].
[1] Verizon Communications said Friday it is ending diversity, equity and inclusion programs after the Trump administration opened a probe and as the U.S. telecom carrier seeks approval to purchase Frontier Communications.[2] Federal Communications Commission chair Brendan Carr in February criticized Verizon for its promotion of DEI programs and said it could be a factor in the Frontier deal.[3] Verizon said in a letter to Carr seen by our website the company was removing its "Diversity and Inclusion" website and removing references to DEI from employee training and making other changes to hiring, career development, supplier diversity and corporate sponsorship practices.
- The scrapping of Verizon's diversity, equity, and inclusion (DEI) initiatives has raised eyebrows in the realm of general-news, particularly in relation to their $9.6 billion acquisition of Frontier Communications, as politics and business intertwine.
- The decision by Verizon to drop workforce diversity goals and ditch compensation elements linked to increasing minorities and females in management, a response to FCC chairman Brendan Carr's concerns about DEI practices potentially leading to discrimination, has significant implications for finance, as it could impact their business practices moving forward.
