Trump administration targets diversity hiring by contractors
Trumpโs Labor Department is using a 55-year-old presidential order spurred by the Civil Rights Movement to scrutinize companies like Microsoft and Wells Fargo over their public commitments to diversity. The agency has oversight over the hiring practices of thousands of federal contractors that employ roughly a quarter of all American workers. But he said itโs more likely the Trump administration is using the move as a political tactic ahead of the presidential election. โItโs a chicken-and-egg problem.โThe latest actions affecting contractors align with a broader Trump administration trend on matters of race. At least one university, the University of Iowa, suspended its diversity efforts in response the order.
Wells Fargo CEO apologizes for comments about diversity
FILE - In this March 10, 2020 file photo, Wells Fargo CEO and President Charles Scharf is seated before he testifies during a hearing of the House Financial Services Committee, on Capitol Hill, in Washington. (AP Photo/Alex Brandon, File)NEW YORK โ Wells Fargo CEO Charles Scharf apologized Wednesday for comments he made suggesting it is difficult to find qualified Black executives in the financial industry. Scharf said in a memo to employees โthere is a very limited pool of Black talent to recruit fromโ in corporate America. โPerhaps it is the CEO of Wells Fargo who lacks the talent to recruit Black workers,โ said Rep. Alexandra Ocasio-Cortez of New York, on Twitter. The last prominent African American to serve as CEO at a large financial services company was Kenneth Chenault, the former CEO of American Express.