Azoria CEO James Fishback discussed companies bringing back their DEI initiative on ‘The Bottom Line’.
Verizon Communications On Friday, it was stated that this Trump administration is ending its diversity, equity and DEI programs amidst investigation into those practices, as telecommits want federal approval for an acquisition.
Federal Communications Commission Chairman Brendon Car criticized Verizon in February, for promoting DEI programs, stating that it could be a factor in reviewing the employed acquisition of Verizon of Frontier Communications for $ 20 billion, including Verizon’s debt.
Brendon Car, Chairman of the Federal Communications Commission, criticized Verizon in February for promoting DEI programs. (Chip Somodeville / Getty Image / Getty Image)
Verizon said in a letter to Carr that it was reviewed by Reuters that it was removing its “diversity and inclusion” website and removing the reference of DEI in employee training programs – as well as changing its work, hiring, career development, suppliers diversity and corporate sponsorship practices.
Verizon-Frontier deal: How it can affect customers
The company plans to end the workforce diversity goals and will also leave a component of its management compensation scheme that included a target to promote representation of women and minorities in Verizon’s American workforce.
Verizon said in a letter to Carr that he was reviewed by Reuters that he was removing his “diversity and inclusion” website and removing the reference of DEI in employee training programs. (Reuters/Mike Black/File Photo/Reuters Photos)
“Warizon recognizes that something Dei policies And practices can be linked to discrimination, “Vandana Venkatesh, Chief Legal Officer of Verizon, said in the letter, saying that the changes will be effective immediately.
Carr posted a letter on social media and stated that Verizon’s tricks “equal opportunities, a good step for non -across and public interest.”
FCC President opened an investigation at DEI in Disney, ABC: ‘I am worried’
Verizon is demanding approval from FCC for itself Acquisition of Frontier. The deal was announced last September as an all-cash transaction worth $ 20 billion.
The telecom provider said that the deal will increase the measure of 2.2 million Fiber customers, 31 states and Washington, DC to comprehend Verizon’s reach in 25 million campus
Verizon CEO Hans Westberg said at the time of the announcement that the acquisition of Frontier was a “strategic fit” that would help the company become more competitive across the US
Verizon CEO Hans Westberg speaks on the floor on the New York Stock Exchange in New York on 22 October 2019. (Reuters/Brandon McDermid)
Get Fox Business when you click here
Frontier CEO Nick Jeffrey said the deal “provides sufficient cash premium to shareholders, while expanding exciting new opportunities for our employees and expanding access to reliable connectivity for more Americans.
Reuters contributed to this report.
