JP Morgan dumped the DEI program in favor of DOI. Instead of the Diversity Equity Inclusion, it's now Diversity Opportunity Inclusion.
NEW YORK (Reuters) - JPMorgan Chase Chief Operating Officer Jenn Piepszak said the bank was making some changes to its Diversity, Equity and Inclusion programs and the language it uses to describe them in an effort to keep up with the market and changes in regulations, according to a memo seen by Reuters.
The bank was changing “equity” to “opportunity” and renaming it Diversity, Opportunity and Inclusion, from DEI, the memo sent out earlier on Friday said.
"The “e” always meant equal opportunity to us, not equal outcomes, and we believe this more accurately reflects our ongoing approach to reach the most customers and clients to grow our business, create an inclusive workplace for our employees and increase access to opportunities," Piepszak said in the memo.
Now the company will be based on "merit", not equity.
NEW YORK (Reuters) - JPMorgan Chase Chief Operating Officer Jenn Piepszak said the bank was making some changes to its Diversity, Equity and Inclusion programs and the language it uses to describe them in an effort to keep up with the market and changes in regulations, according to a memo seen by Reuters.
The bank was changing “equity” to “opportunity” and renaming it Diversity, Opportunity and Inclusion, from DEI, the memo sent out earlier on Friday said.
"The “e” always meant equal opportunity to us, not equal outcomes, and we believe this more accurately reflects our ongoing approach to reach the most customers and clients to grow our business, create an inclusive workplace for our employees and increase access to opportunities," Piepszak said in the memo.
Now the company will be based on "merit", not equity.