Amidst a wave of opposition to diversity programs, companies across the country have been quick to tone down or move away from their diversity, equity, and inclusion (DEI) initiatives. The change is especially evident in the tech industry, where new rounds of layoffs have targeted DEI teams over employees more essential to product development.

Yet many of these corporate programs bloomed only four years ago in the aftermath of George Floyd's brutal death. Has our country progressed so much as to make DEI obsolete? Or is this a direct response to new political pressures that seek to eliminate DEI efforts due to a dearth of short-term results—despite the fact that DEI programs seek to rectify centuries of economic injustice?

The facts speak to the latter. While representation in corporate leadership is at a record high this year, the degree of improvement equates to only eight Fortune 500 companies with a Black CEO. And with bias built into our financial systems, employees of color face different and significant challenges compared with their white peers. In carrying higher debt loads, lower personal and retirement savings balances, and more caretaking responsibilities, employees of color find it much harder to garner the focus and resources necessary to matriculate into higher-paying roles that would help diminish existing wealth gaps.