American Express to invest $1 billion in diversity push

In this news, we discuss the American Express to invest $1 billion in diversity push.

(Reuters) – American Express said Thursday it was investing $ 1 billion to advance racial and gender equality, the latest in a series of U.S. companies pledging to promote social justice after a series of breed-related events earlier in the year.

The payment services operator said it will work to achieve 100% pay equity for its employees, as well as promote practices to hire and retain under-represented colleagues, including

Black / African American, Latinox and female colleagues.

The company also said it plans to double its spending on diverse and minority-owned vendors in the United States, as well as providing grants to nonprofits by the end of 2024. .

Several US companies had pledged billions of dollars to promote racial equality after the murder of George Floyd, a black man, by Minneapolis police sparked nationwide protests earlier in the year.

Some of the companies that have rushed to take a stand include Home Depot Inc, Procter & Gamble Co and Coca-Cola Co. JPMorgan Chase & Co recently made a $ 30 billion pledge over the next five years.

Report by Ambar Warrick in Bengaluru; Editing by Maju Samuel

Original © Thomson Reuters

Originally posted 2020-10-29 23:36:10.

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