## A Year of Reflection
A year following the tragic death of George Floyd, the reverberations continue to be felt across numerous spheres. Doug McMillon, CEO of Walmart, issued a [stern warning](https://corporate.walmart.com/news/2021/05/25/the-murder-of-george-floyd-one-year-later) to corporate America, urging action against systemic racism. His words underscored a long-standing history of racial inequality, sparking widespread corporate commitments to diversity. Yet, one wonders how enduring these promises truly are in an ever-shifting landscape.
## The Retreat from DEI
In a notable turn of events, Walmart has made the decision to retreat from its diversity, equity, and inclusion (DEI) initiatives. Despite the earlier commitments, the corporation has chosen to cease using DEI terminology and discontinued related training programmes. Moreover, they’ve stopped considering race and gender in diversity efforts amongst suppliers, not renewing the racial equity centre aimed at remedying disparities affecting Black and African American communities. Just last month, this decision aligned Walmart with other companies yielding to right-wing pressure. However, [Bloomberg](https://www.bloomberg.com/opinion/articles/2024-12-02/walmart-s-dei-reversal-isn-t-all-about-robby-starbuck?sref=fqqmZ8gi) suggests that these plans predated any conservative provocations.
## The Impact on Employees
For TaNeka Hightower, a Walmart employee from Memphis, Tennessee, the policy reversal cut deep. “I identify with all of the groups pretty much covered under the DEI,” she lamented. The lack of communication to staff, learning about the changes through the media, left her feeling alienated. The rollback seems a stark contrast to the supposed inclusivity that was promised earlier. United for Respect, a group backed by a union representing Walmart workers, endeavoured to carry forward a proposal for a third-party racial equity audit. Regrettably, the proposal lacked the necessary support in shareholder meetings.
## Evaluating Shareholder Response
The Walton family, holding [about 46%](https://www.4029tv.com/article/walmart-shares-own/60995075) of Walmart’s shares, hold significant sway in decisions. Meanwhile, institutional investors like BlackRock own another sizable portion. Thus, support for the racial equity proposal amongst non-Walton shareholders is notable. In 2023, non-family shareholders gave it 42% backing.
## Seeking Accountability
Walmart’s pulling back from DEI policies has attracted criticism from activists and employees alike. Bianca Augustin, co-executive director at United for Respect, called it a substantial setback, tied to changing political climates. She noted Walmart’s previous opposition to the racial equity proposal relied on now-rescinded DEI measures. As the largest private employer in the US, with vast reach both here and abroad, the rollback affects countless workers, especially Black Americans and women.
### Concerns Amongst the Shareholder Community
Augustin remarked how stakeholders were left surprised and disappointed at Walmart’s decision. “Walmart has a real responsibility given its scale,” she said. Expectations are high for continued efforts towards transparency and accountability from large employers. The corporation had, up till now, insisted it performs internal racial audits, though those findings remain unpublished.
## Corporate Response and Future Directions
Despite the ongoing critiques, Walmart remains largely unresponsive regarding the DEI withdrawal and shareholder proposals. A spokesperson, in a statement, affirmed their mission remains to save people money and foster opportunity. While change invariably accompanies such journeys, the path ahead for Walmart indeed appears to meander through complex social landscapes.
The above article format narrates the changes, employee perspectives, shareholder nuances, and broader corporate implications. It contextualises Walmart’s DEI rollback within a broader societal and political discourse while aligning closely with widely-held expectations for large-scale corporations.
