Azoria CEO James Fishback discusses companies rolling back their DEI initiatives in “The Botunt Line.”
Verizon Communications On Friday, he said it has ended its Diversity, Equity and Inclusion (DEI) program in a Trump administration’s investigation into those practices as telecom giants seek federal approval for the acquisition.
Federal Communications Commission (FCC) Chairman Brendan Carr criticized Verizon for promotion to the DEI program in February, saying Verizon’s planned acquisition of Frontier Communications could be considered for a $20 billion review, including debt.
Federal Communications Commission (FCC) Chairman Brendan Kerr criticized Verizon in February for promoting the DEI program. (Photo by Photo Somodevilla/Getty Images/Getty Images)
Verizon said in a letter to Carr, reviewed that Reuters removed the “Diversity and Inclusion” website, removed references to DEI in employee training programs, and changed employment, career development, supplier diversity and corporate sponsorship practices.
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The company plans to end workforce diversity goals and will also remove elements of its management compensation plan, including targets that will boost women and minority representation in the U.S. workforce at Verizon.
Verizon said in a letter to Carr reviewed by Reuters that Reuters has removed its “diversity and inclusion” website and has removed references to DEI in its employee training program. (Reuters/Mike Blake/File Photo/Reuters Photo)
“Verizon recognizes some of it DEI Policy Verizon’s Chief Legal Officer Vandana Venkatesh added in a letter that the changes will take effect soon.
Kerr posted a letter to social media, saying Verizon’s move is “a good step forward for equal opportunities, non-discrimination and public interest.”
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Verizon is seeking approval from the FCC Frontier acquisition. The deal was announced last September as an all-cash transaction worth $20 billion.
The telecom provider said the agreement would increase its size by 2.2 million. Fiber subscribersexpanding Verizon reach to 25 million facilities in 31 states, Washington, DC
Verizon CEO Hans Vestberg said at the time of the announcement that Frontier’s acquisition is a “strategic fit” that will help make it more competitive across the US.
Verizon CEO Hans Vestberg will speak on the floor of the New York Stock Exchange (NYSE) in New York on October 22, 2019. (Reuters/Brendan McDermid)
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Frontier CEO Nick Jeffrey said the deal “provides significant cash insurance premiums to Frontier shareholders, creates exciting new opportunities for employees, and expands access to reliable connections for more Americans.”
Reuters contributed to this report.
