Latest news with #DEI-related
Yahoo
2 days ago
- General
- Yahoo
UNC Charlotte administrator out after undercover DEI video goes viral
A UNC Charlotte administrator is no longer employed after a viral video on DEI-related policies. According to the university, the video was taken undercover by a non-profit aimed at exposing corruption, law-breaking, and public policy failures. ALSO READ: North Carolina Senate votes to eliminate DEI initiatives in public schools In it, the employee is heard implying that work related to diversity, equity, and inclusion was still happening on the campus. In February, the Department of Education gave universities an ultimatum to eliminate diversity initiatives or risk losing federal funding. VIDEO: NC House passes bill banning DEI in state agencies
Yahoo
22-05-2025
- Business
- Yahoo
Microsoft is blocking employees from sending emails with the word 'Palestine'
Microsoft (MSFT) has reportedly implemented internal email filters that restrict messages containing terms such as 'Palestine,' 'Gaza,' and 'genocide.' The move, which Microsoft described as part of an effort to limit mass, non-work-related messages, has sparked accusations of censorship and bias — particularly amid rising employee protests over the company's contracts with the Israeli government. Employee activist group No Azure for Apartheid (NOAA) posted Microsoft's email restrictions on social media, saying people were being blocked from sending messages related to the humanitarian crisis in Gaza. NOAA has organized around Microsoft's role in providing Azure cloud services, including AI tools, to Israeli government entities, which the group says could be used in military operations. Microsoft has maintained that internal and external reviews have found no evidence that its tools have been used to harm civilians in Gaza. Microsoft confirmed to The Verge that it implemented restrictions to limit 'politically focused emails.' In a statement provided to Quartz, a Microsoft spokesperson said, 'Sending unsolicited email to large numbers of employees at work is not appropriate. We have an established forum for employees who have opted into a variety of issues for this reason. Over the past couple of days, a number of emails have been sent to tens of thousands of employees across the company and we have taken measures to try and reduce those emails to those that have not opted in.' Employees have previously said that pro-Ukraine or DEI-related mass emails were allowed, while their pro-Palestine messages were blocked. Microsoft has operated an R&D center in Israel since 1991 (the company's first such center outside the U.S.) and is a major investor in Israel's startup and cybersecurity ecosystem. The controversy around Microsoft's ties to Israel's government further escalated this week during the Microsoft Build developer conference when employees disrupted addresses by company leadership in order to protest Microsoft's policies and contracts. One employee, Joe Lopez, was terminated after disrupting CEO Satya Nadella during a keynote and sending an email to employees where he said he had to take action because of the 'silence' of top brass on the company's links to the Israeli government. Lopez accused the company of a 'bold-faced lie' about how Azure is being used in Gaza. This isn't Microsoft's first clash with employees over its government contracts. In recent months, over 1,500 workers have signed an open letter demanding the company end ties with Israeli defense agencies, echoing similar movements at Google (GOOGL) and Amazon (AMZN). For the latest news, Facebook, Twitter and Instagram.
Business Insider
21-05-2025
- Business
- Business Insider
Target sales tumble after facing 'headwinds' in wake of DEI rollback
Target sales fell sharply in the three months to May 3, in a period marked by its decision to roll back DEI initiatives in January. In an earnings call Wednesday, Target CEO Brian Cornell said the reaction to the DEI changes was one of several "additional headwinds" that had an adverse impact on sales, but the company could not quantify the amount. Business Insider reported in March that consumer analytics firm Numerator found customer foot traffic and market share had shifted from Target to Costco, particularly among shoppers who value DEI. On an earlier media call, Target executives declined to comment on DEI-related consumer boycotts or say whether tariffs would mean price rises. Comparable sales fell by 3.8%, store traffic was down 2.4% and average transaction size decreased 1.4%. Store-originated sales declined 5.7% and were partially offset by 4.7% growth in digital sales, led by a 36% surge in same-day delivery via Target Circle 360. Target is "looking at ways to mitigate some of those price changes," Cornell said. Sourcing more products from the US rather than China was a potential solution to absorb tariff-related price increases. "So there's certainly items that are being reduced. Some will go up," he said. Target now expects a low-single-digit decline in sales for the full year. Stock fell more than 4% in premarket trading and was down 28% this year at Tuesday's close. It also announced an "acceleration office" led by former CFO Michael Fiddelke aimed at speeding up strategic execution and reversing recent declines. Amy Tu, the chief legal and compliance officer, and the Christina Henningon, chief strategy and growth officer, are both leaving the company. Net income rose $62 million to $1.04 billion.
Business Insider
21-05-2025
- Business
- Business Insider
Target sales tumble — and aren't expected to improve anytime soon
Target sales fell sharply in the three months to May 3, in a period marked by its decision to roll back DEI initiatives in January. Comparable sales fell by 3.8%, store traffic was down 2.4% and average transaction size decreased 1.4%. Store-originated sales declined 5.7% and were partially offset by 4.7% growth in digital sales, led by a 36% surge in same-day delivery via Target Circle 360. Business Insider reported in March that consumer analytics firm Numerator found customer foot traffic and market share had shifted from Target to Costco, particularly among shoppers who value DEI. In a statement, Target CEO Brian Cornell said sales "fell short of our expectations" in a "highly challenging environment." On a media call, Target executives declined to quantify the sales impact of DEI-related consumer boycotts or say whether tariffs would mean price rises. Target is "looking at ways to mitigate some of those price changes," Cornell said. Sourcing more products from the US rather than China was a potential solution to absorb tariff-related price increases. "So there's certainly items that are being reduced. Some will go up," he said. Target now expects a low-single-digit decline in sales for the full year. Stock fell more than 4% in premarket trading and was down 28% this year at Tuesday's close. It also announced an "acceleration office" led by former CFO Michael Fiddelke aimed at speeding up strategic execution and reversing recent declines. Amy Tu, the chief legal and compliance officer, and the Christina Henningon, chief strategy and growth officer, are both leaving the company. Net income rose $62 million to $1.04 billion.
Yahoo
21-05-2025
- Business
- Yahoo
Target badly misses on earnings, slashes guidance as it battles DEI backlash and reinvigorated Walmart
Target (TGT) is giving itself black eyes on earnings day. The discount retailer badly whiffed on earnings on Tuesday morning and slashed its full-year outlook. Its results are likely to spark worry that consumer protests of its January retreat on DEI policies, combined with Trump tariffs, have created a financial tornado destined to wallop the company. Target CEO Brian Cornell and other top execs on a media call declined numerous times to specifically say if they are raising prices because of tariffs. They also declined to quantify the sales impact of DEI-related consumer boycotts. "Pricing is a very dynamic part of our business," Cornell said, noting price changes are an ongoing effort. "We make adjustments literally each and every week." Cornell said Target is "looking at ways to mitigate some of those price changes," such as sourcing more products from the US as opposed to China. "So there's certainly items that are being reduced. Some will go up." Target's lackluster earnings come hot on the heels of a mixed quarter from larger rival Walmart (WMT) last week. First quarter sales rose 2.5% from the prior year to $165.6 billion, falling shy of Wall Street estimates of $166.02 billion. Adjusted earnings per share increased 1.7% year over year to $0.61, beating estimates of $0.58. US same-store sales also beat expectations with a 4.5% increase, led by health and wellness, as well as groceries. And while Walmart reiterated its full-year earnings per share outlook of $2.50 to $2.61, it was mostly below analyst estimates of $2.61. This is despite the retailer beating earnings estimates by $0.03 for the first quarter. Walmart said it would begin raising prices in a few weeks due to tariffs from the Trump administration. "So we'll work hard to try to keep prices low. But it's unavoidable that you're going to see some prices go up on certain items," Walmart CFO John David Rainey said on Yahoo Finance's Catalysts (video above). The callout drew a public rebuke by Trump on social media, who demanded Walmart "eat the tariffs." Trump's response likely triggered Target execs to be more hesitant to spell out price hikes. First quarter net sales: -2.8% year over year to $23.8 billion, vs. estimates for $24.35 billion Gross profit margin: 28.2% vs. 28.8% a year ago, vs. estimates for 27.44% Diluted earnings per share: -35.9% year over year to $1.30, vs. estimates for $1.65 (Guidance was for "meaningful" year-over-year pressure.) Comparable sales: -3.8% year over year, vs. 1.84% estimate (Last year, comparable sales fell 3.7%; Walmart US reported a 4.5% gain.) Digital comparable sales: +4.7% Inventory rose 15% from the year-ago period. The company repurchased $251 million of stock in the quarter; $8.4 billion remains available to repurchase under a prior authorization. The number of transactions fell 2.4% in the quarter, while the average transaction amount dropped 1.4%. Full-year earnings per share are projected to be $7.00 to $9.00 (fiscal 2024: $8.86), compared to estimates of $8.59. Prior guidance was for $8.80 to $9.80 a share. Brian Sozzi is Yahoo Finance's Executive Editor. Follow Sozzi on X @BrianSozzi, Instagram and on LinkedIn. Tips on stories? Email Click here for in-depth analysis of the latest stock market news and events moving stock prices Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
