Big Biz News: Costco is pushing back — hard — against the anti-DEI movement
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I was in there today. Appreciate the people who work there with a smile and keep the place running smoothly. My hearing aids wouldn’t hold a charge. Turns out they were out of the three years warranty in September. Dude did a hard reset and got them working better than before. Told me that they’d probably have to go back to the factory for upgrade if it happens again. Never once tried to sell me a new one. I love Costco
Costco is pushing back — hard — against the anti-DEI movement
Costco is battling an anti-DEI wave with a stern rebuke to activist shareholders looking to end the warehouse retailer’s diversity ambitions.
Walmart, John Deere, Tractor Supply and other companies are changing or walking away from diversity, equity and inclusion (DEI) policies. But Costco believes DEI helps its “treasure hunt” shopping atmosphere, and it is standing behind its efforts.
Costco’s board of directors unanimously recommended that its shareholders vote against a proposal brought by a conservative think tank, the National Center for Public Policy Research, that would require Costco to evaluate and issue a report on the financial risks of maintaining its diversity and inclusion goals. The group criticized Costco for possible “illegal discrimination” against employees who are “white, Asian, male or straight.”
The National Center for Public Policy Research did not immediately respond to CNN’s request for comment
Costco has a chief diversity officer and a supplier program that focuses on expanding with small and diverse businesses. It also donates to organizations like the Thurgood Marshall College Fund that serve minorities and underrepresented groups.
Costco said its DEI efforts help the company attract and retain a wide range of employees and improve merchandise and services in stores. Costco also said its members want to interact with a diverse employee base.
“Among other things, a diverse group of employees helps bring originality and creativity to our merchandise offerings, promoting the ‘treasure hunt’ that our customers value,” Costco said in its proxy statement to investors. “We believe (and member feedback shows) that many of our members like to see themselves reflected in the people in our warehouses with whom they interact.”
The board went further in its recommendation to vote against the proposal, saying the think tank is masking its true anti-diversity agenda under the guise of reducing risk. Costco said the NCPPR is inflicting burdens on companies with challenges to DEI and the organization’s broader agenda is to abolish diversity initiatives.
“The proponent professes concern about legal and financial risks to the company and its shareholders associated with the diversity initiatives,” the company said. “The supporting statement demonstrates that it is the proponent and others that are responsible for inflicting burdens on companies with their challenges to longstanding diversity programs. The proponent’s broader agenda is not reducing risk for the company but abolition of diversity initiatives.”
Costco released its proxy earlier this month, but the statement gained attention on social media this week.
There’s no single definition of DEI, but it’s generally a mix of employee training, employee resource networks and recruiting practices to advance representation of people of different races, genders and classes, people with disabilities, veterans and others.
The shareholder resolution contends that Costco’s DEI practices are potentially discriminatory. But Costco said its policies are legal and non-discriminatory.
Costco, which pays some of the highest wages in retail and is considered a progressive employer, is backing DEI at a moment when such initiatives are under attack from right-wing activists, legal groups, conservative customers and President-elect Donald Trump’s incoming administration.
Most companies are not abandoning DEI entirely, but some are modifying terminology from “DEI” to “inclusion” or “belonging” in an attempt to fend off pressure. Companies are also advertising their efforts less prominently than they were in 2020 and 2021.
Costco is battling an anti-DEI wave with a stern rebuke to activist shareholders looking to end the warehouse retailer’s diversity ambitions.
Walmart, John Deere, Tractor Supply and other companies are changing or walking away from diversity, equity and inclusion (DEI) policies. But Costco believes DEI helps its “treasure hunt” shopping atmosphere, and it is standing behind its efforts.
Costco’s board of directors unanimously recommended that its shareholders vote against a proposal brought by a conservative think tank, the National Center for Public Policy Research, that would require Costco to evaluate and issue a report on the financial risks of maintaining its diversity and inclusion goals. The group criticized Costco for possible “illegal discrimination” against employees who are “white, Asian, male or straight.”
The National Center for Public Policy Research did not immediately respond to CNN’s request for comment
Costco has a chief diversity officer and a supplier program that focuses on expanding with small and diverse businesses. It also donates to organizations like the Thurgood Marshall College Fund that serve minorities and underrepresented groups.
Costco said its DEI efforts help the company attract and retain a wide range of employees and improve merchandise and services in stores. Costco also said its members want to interact with a diverse employee base.
“Among other things, a diverse group of employees helps bring originality and creativity to our merchandise offerings, promoting the ‘treasure hunt’ that our customers value,” Costco said in its proxy statement to investors. “We believe (and member feedback shows) that many of our members like to see themselves reflected in the people in our warehouses with whom they interact.”
The board went further in its recommendation to vote against the proposal, saying the think tank is masking its true anti-diversity agenda under the guise of reducing risk. Costco said the NCPPR is inflicting burdens on companies with challenges to DEI and the organization’s broader agenda is to abolish diversity initiatives.
“The proponent professes concern about legal and financial risks to the company and its shareholders associated with the diversity initiatives,” the company said. “The supporting statement demonstrates that it is the proponent and others that are responsible for inflicting burdens on companies with their challenges to longstanding diversity programs. The proponent’s broader agenda is not reducing risk for the company but abolition of diversity initiatives.”
Costco released its proxy earlier this month, but the statement gained attention on social media this week.
There’s no single definition of DEI, but it’s generally a mix of employee training, employee resource networks and recruiting practices to advance representation of people of different races, genders and classes, people with disabilities, veterans and others.
The shareholder resolution contends that Costco’s DEI practices are potentially discriminatory. But Costco said its policies are legal and non-discriminatory.
Costco, which pays some of the highest wages in retail and is considered a progressive employer, is backing DEI at a moment when such initiatives are under attack from right-wing activists, legal groups, conservative customers and President-elect Donald Trump’s incoming administration.
Most companies are not abandoning DEI entirely, but some are modifying terminology from “DEI” to “inclusion” or “belonging” in an attempt to fend off pressure. Companies are also advertising their efforts less prominently than they were in 2020 and 2021.
When an anti-DEI activist took a swing at Costco, the board hit back
A shareholder proposal is arguing that Costco's diversity, equity and inclusion policies are making the Issaquah-based company susceptible to legal risks.
www.seattletimes.com
Good shit...bout to renew my membership
Dope going to do some extra shopping there
I renewed mine a couple of months ago..
If you ever saw a 60 minutes type story on this you’d know that comparably, Costco is a v. solid company.
Does comparably better by their employees and refuses to raise prices on certain things for their consumers.
However……….wait for it…….,,,
- Diversity
The presence of differences in human identity, such as race, gender, age, sexual orientation, ethnicity, religion, disability, and more. - Equity
The fair distribution of resources, access, and opportunities so that everyone has what they need to succeed.
- Inclusion
The intentional effort to ensure that diverse individuals are welcomed, supported, and valued, and have equitable access to community and decision-making.
- Equity
DEI is completely against all the principles and values this country was built on.
Our racist, rapist, inhumane forefathers must be rolling over in their burning graves.
Trump, who y’all voted for, will correct this swiftly.
Carry on……
Damn
Once my Sam's club membership expires, I'm going to Costco. Shout out to them. I'll be going out of of my way, but it's worth it.
If you have a halfway decent credit score, they will issue you a Visa card and renew your membership automatically every year. They claim that the membership fees are their profit
Thanks fam.
It’s is most of their profit they make several billion off that.. they Have like a 93 percent renewal rate this is why membership is 1 of their main focus.. consistently making 5 billion a yr just off of membership Definitely is what keep them profitable
Man I'm so glad I fucks with Costco. I got the executive membership and get a check for $300 a year that more than covers that cost, plus their credit card and been getting $1000 cash back every year. Feeling good about the amount of money I spent with them.
Good for COSTCO standing up to the racist anti-DEI trolls who spooked WMT with a boycott threat. The trailer trash who patronize WMT can't threaten COSTCO -- they can't afford the membership fee. Just bought a new set of tires at COSTCO after pricing them at Discount Tire. Set of 4 new inflator sensors $240. COSTCO $80! Plus I saved about $200 on the tires. COSTCO's DEI business model is working: Low markups/cheap prices -- diverse -- friendly -- courteous staff = stock price $930+= per share.
Yeah they are pretty solid company. My wife was having a conversation with an employee who had been there i think twenty five years and she told us that after twenty five years, they get bi annual bonuses of $5k. B33n with my company for 22 yrs, at 20 i got a leaf blower.
I have problems with crybaby white terrorist in the store. This might be deceptive PR nonsense to make people think they are something that they're not.
Biggups on the video
There a global company, plus w so many stores in liberal Cali………welp
Carry on……
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I love that Costco takes care of their employees, but it's a horrible place to shop.
Seeing their CEO speak on company values and paying people what they were worth was all I needed to see...I will always support companies that this..
I knew this was a good company when the one in DC had the same employees since that joint opened up back in 2008....Everyone I've talked to at that store LOVE their job
Plust COSTCO has created several millionaires for people who started working their at an early age with the ability to buy their stocks
I knew this was a good company when the one in DC had the same employees since that joint opened up back in 2008....Everyone I've talked to at that store LOVE their job
Plust COSTCO has created several millionaires for people who started working their at an early age with the ability to buy their stocks
Bruh, if this ain't the mf truth!!!!!!! They really cannot and will not admit that many of them are where they are due to their skin color, or where they went to school, or who their daddy golfed with, etc.
Speaking of school, don't even get me started on legacy admissions.