JPMorgan rebrands DEI programs to DOI following political pressures

JPMorgan Chase has announced a change in its diversity programs. The bank is rebranding its “diversity, equity and inclusion” (DEI) initiatives to “diversity, opportunity and inclusion” (DOI). This shift is part of a broader response among companies to political pressures from the Trump administration. In an internal memo, JPMorgan's COO Jennifer Piepszak explained that the term ‘equity’ was being replaced with ‘opportunity.’ She emphasized that the bank believes in equal opportunity rather than equal outcomes. JPMorgan is the largest bank in the U.S. and employs over 300,000 people. Other major banks, like Goldman Sachs and Citigroup, have also reduced their diversity targets recently. This comes after Donald Trump returned to the presidency in January, leading to increased scrutiny of DEI initiatives. Critics of DEI programs argue that they may prioritize demographics over merit in hiring. Trump has claimed, without evidence, that DEI policies contributed to a tragic aviation accident near Washington in January. As the corporate landscape shifts, over 200 big companies, including Mastercard and Salesforce, have begun removing mentions of DEI from their annual reports. JPMorgan has updated its own report by changing the title from “Diversity, equity and inclusion” to “Workforce composition.”