On Feb 22, Berkshire Hathaway, led by Warren Buffett, joined a growing number of American companies in adjusting their approach to discussing diversity and inclusion. In its annual report, Berkshire's conglomerate of 189 operating businesses, employing approximately 392,400 individuals, emphasized the significance of human capital and resources. Each business establishes practices to attract and retain employees.
The previous year's report highlighted hiring practices aimed at "identifying qualified candidates and promoting diversity and inclusion in the workforce." However, this year's report concluded the discussion on diversity and inclusion after "candidates."
Buffett's assistant did not immediately respond for comment. Berkshire has emphasized its decentralized structure, enabling individual businesses to make independent day-to-day decisions without top-level interference.
Berkshire, along with several prominent U.S. companies like Amazon.com, Boeing, Citigroup, Ford, McDonald's, Morgan Stanley, and Walmart, has scaled back public support for diversity, equity, and inclusion initiatives in the workplace. These efforts have faced criticism from conservatives, including attempts by the U.S. President to eliminate DEI initiatives from the federal government.
During Berkshire's annual meeting last May, shareholders overwhelmingly voted against a proposal for Berkshire to disclose more about its DEI efforts. The company's board of directors opposed the proposal.
Buffett has led Berkshire since 1965. The company, headquartered in Omaha, Nebraska, boasts a diverse portfolio including Geico car insurance, the BNSF railroad, and a variety of energy, industrial, retail, and service businesses.