Disney Quietly Removes DEI Language from Investor Reports

In recent weeks, large companies have announced the end of their diversity programs. Other companies, according to NPR, are “quiet quitting” instead — including Disney.

Disney, Google, GM, GE, Pepsi, Intel, PayPal, Chipotle, Comcast, 3M, Regeneron, and Philip Morris have deleted some or all of their DEI language.

Disney shortened its “diversity, equity and inclusion” section in its most recent annual report that was filed in November. Previously, Disney had references to a website “for amplifying underrepresented voices” and showcasing Disney’s DE&I commitments and actions.

Some other companies no longer mention “diversity” at all in their reports. Most companies from this list have filed annual reports in the past two weeks — coming at a time when President Trump ordered an end to DEI in the federal government. Conservative critics are also putting pressure on companies saying DEI programs are discriminatory against non-minorities.

In 2020, Disney added “Inclusion” as a fifth key for Cast Member training. The keys represent the pillars of what it means to be a Cast Member and are part of the “Traditions” course for training.

Burbank Disney Company Headquarters ©️LA Times

However, Disney’s inclusion policies have been in the spotlight recently. Elon Musk called out Disney on X (formerly Twitter) in February 2024 saying its inclusion standards contained “mandatory, institutionalized racism and sexism”. This is the photo Musk shared claiming to be Disney’s standards.

©Disney

There is no regulatory requirement for companies to disclose DEI policies or standards. Companies have in the past to please others including employees, customers, and investors, but now the political environment is different. Becky Baker, an employment lawyer from Vinson & Elkins, said, “We have seen companies start to decide that the reward is not necessarily outweighed by the risk anymore.”