Verizon Communications (VZ) is ending its diversity, equity and inclusion programs as it seeks US Federal Communications Commission approval for its acquisition of Frontier Communications (FYBR), Reuters reported Friday, citing a letter sent to FCC chair Brendan Carr.
Verizon said in the letter it is deleting its "Diversity and Inclusion" website and removing references to DEI from employee training while implementing changes to hiring, career development, and corporate sponsorship practices, according to Reuters.
Verizon will also stop maintaining workforce diversity goals and eliminate a component of the management compensation plan linked to increasing the representation of women and minorities in its US workforce, the report said.
Carr earlier said he was initiating a probe into Verizon's promotion of DEI programs, which could be a factor in the Frontier acquisition deal, Reuters said.
Verizon didn't immediately respond to a comment request from MT Newswires.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
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