JPMorgan Chase has publicly shifted its focus from diversity, equity, and inclusion (DEI) to a new program called Diversity, Opportunity & Inclusion (DOI). This change is rooted in a belief that 'equity' implied equal outcomes rather than equal opportunity. The bank's COO, Jenn Piepzak, stated that the new program aims to enhance customer outreach, employee inclusivity, and opportunity access. Under this framework, the company will reduce training and integrate diversity efforts within HR. This move aligns with a broader reevaluation of DEI language among financial institutions amidst political scrutiny of such programs.
"We are changing 'equity' to 'opportunity'... because the 'e' always meant equal opportunity to us, not equal outcomes, and we believe this more accurately reflects our ongoing approach..."
"We've always been committed to hiring, compensation and promotion that are merit-based; we do not have illegal quotas or pay incentives, and we would never turn someone away because of their political or religious beliefs..."
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