In a world where President Trump has instructed federal agencies to terminate DEI programs and where brands like Amazon, Ford, and Target are rolling back theirs, WPP’s annual document cut all references to “diversity, equity and inclusion,” “DE&I,” and “DEI” for 2024.
In 2023, the term was used 20 times, with WPP describing itself as a “diversity leader” three times.
In 2023, the holding company also listed “people and DE&I” as a key measure of executives’ non-financial performance, which impacts their short-term bonus packages. This year, the term used was changed to “people and culture.”
The company said that while the phrasing in its annual report had changed, the criteria used to calculate executives’ short-term bonuses remained “unaltered” for 2024.
In his CEO statement in the report, Read said: “In today’s complex world, a pressing question for brands and organizations is whether to engage on social issues in a more contested public arena, and how to navigate the expectations of different audiences with competing views on sensitive topics.”
He said that though political events had changed, WPP’s aim was “to foster a culture of respect for one another in which everyone feels they belong and has the same opportunities to progress in their careers.”
He added: “We also believe a workforce that reflects the world around us, and the consumers our clients want to reach, helps us do the best work and is good for business.”
WPP is not alone in revising its language.
Per data from market analysts FactSet and company filings analyzed by the Financial Times, more than 200 of America’s largest corporations have culled mentions of DEI and related terms from their own updates.
Of the top 400 companies in the S&P 500 index, 90% of those that have filed an annual report since Trump took office for the second time have cut at least some references to DEI, with many ditching the term entirely.
3. Six agencies deliver over 90% of WPP’s revenue
2024 marked the first full year of operation for the newly formed VML (2.0), which brought together VMLY&R and Wunderman Thompson under a single agency.
