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Walmart's (WMT) recent decision to eliminate its Diversity, Equity, and Inclusion (DEI) policies has sparked a broader conversation about corporate social responsibility. Mills Sadat Dowlat (MSD) LLP Partner Camron Dowlatshahi joins Market Domination Overtime to share his outlook on this evolving landscape.
Dowlatshahi traces the evolution of DEI initiatives following the death of George Floyd in 2020, highlighting how companies initially took "a strong stance supporting under-represented communities."
However, he points out the political and social climate has shifted since then, with "the fall and the rise again of the Trump administration, conservative movement, and far-right movement in the United States, and the 'anti-woke' movements again. And because of that, you see now companies catering to those populations," pointing to businesses like Walmart and Lowe's (LOW).
Despite these shifts, Dowlatshahi asserts that "discrimination is still discrimination." The attorney remains hopeful that established state and federal laws will continue to protect against workplace discrimination. Although, he acknowledges a concerning trend, telling Yahoo Finance "I have seen an increase in fear, frankly."
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"The hope is that we can stand on state and federal law that has been in place for decades and decades," the MSD partner concludes.
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This post was written by Angel Smith