Costco's board of directors has unanimously rejected a shareholder proposal to report on the risks associated with diversity, equity, and inclusion (DEI) programs. The shareholders argued that Costco's DEI efforts could lead to 'illegal discrimination' against white, Asian, male, or straight employees, potentially costing the company billions of dollars. Costco responded that its commitment to DEI is essential to its success and that a diverse workforce benefits both employees and customers.
The Costco Board pushed back against its anti-diversity, equity and inclusion shareholders, who had suggested the wholesale corporation re-evaluate its 'illegal discrimination' program.Newsweek reached out to Costco for comment.Why It MattersDEI programs have become both a cornerstone of institutional policies and a flashpoint in legal debates. Landmark court cases, such as Students for Fair Admissions v. Harvard and Fisher v.
''Having diversity in our supplier base, including attention to small businesses, is beneficial for many of the same reasons diversity benefits our Company,' the Board wrote. 'We believe that it fosters creativity and innovation in the merchandise and services that we offer our members.'How it StartedSome shareholders had put forward a proposal stemming from the Supreme Court ruling in SFFA v.
Diversity Equity Inclusion Shareholders Costco
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
We’re Costco Guys, Of Course We Got the $45 Gift Card With Our 1-Year Gold Star MembershipA Costco 1-year Gold Star membership now comes with a $45 digital Costco shop card.
Read more »
Flash Sale: Get a Costco Gold-Star Membership and get a $45 Digital Costco Shop CardFor a limited time, get a $45 Digital Costco Shop Card when you sign up for a 1-Year Costco Gold Star Membership for $65.
Read more »
Costco rejects union demands as contract deadline loomsTeamsters union said that Costco rejected 98% of the contract provisions it proposed, underscoring how tensions are rising between both sides ahead of the deadline.
Read more »
Former UFC Champ Demetrious Johnson Rejects $5 Million Proposal to End RetirementFormer UFC and ONE flyweight champion Demetrious Johnson shoots down a $5 million proposal to end his retirement.
Read more »
Microsoft Rejects Proposal to Hold Bitcoin on Balance SheetBillionaire Michael Saylor's push for Microsoft to invest in Bitcoin failed as shareholders overwhelmingly rejected the proposal. Despite the cryptocurrency's surge in value, CFOs remain skeptical of Bitcoin as a store of value, viewing it primarily as a speculative asset.
Read more »
Microsoft Rejects Bitcoin Proposal from MicroStrategy's SaylorMicroStrategy CEO Michael Saylor's proposal to convince Microsoft to invest in Bitcoin was rejected by shareholders. Despite the cryptocurrency's price surge, CFOs remain divided on Bitcoin's viability as a store of value.
Read more »