American Express to invest $1 bln in diversity push

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

American Express Co said Thursday it is 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 related protests to breed at the start of the year.

The New York-based credit card issuer said it has achieved 100% pay equity for its employees and will continue to do so, as well as promoting practices to hire and retain under-represented colleagues, including black, Latinx and female colleagues. The company also said it plans to double its spending on diverse and minority-owned vendors in the United States to $ 750 million per year, as well as providing grants to nonprofit organizations. by the end of 2024.

Several American companies, including major banks and financial firms, had pledged billions of dollars to promote racial equality after the murder of George Floyd, a black man, by the Minneapolis police force sparked protests across the country earlier in the year. Earlier in October, JPMorgan Chase & Co said it would pledge $ 30 billion to tackle racial inequality over the next five years, marking one of the biggest commitments for companies. related to breed since Floyd’s death.

Other 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.

News Highlights:

  • American Express Co said Thursday it is 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 related protests to breed at the start of the year. The New York-based credit card issuer said it has achieved 100% pay equity for its employees and will continue to do so, as well as promoting practices to hire and retain under-represented colleagues, including black, Latinx and female colleagues.
  • American Express invests $ 1 billion in promoting diversity
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