Roche abandons global diversity targets on concern over U.S. executive orders

FRANKFURT (Reuters) -Swiss drugmaker Roche has abandoned global targets for a more diverse workforce to avoid penalties from recent U.S. executive orders, the latest in a slew of companies to do so.

Among measures taken, Roche said its Chief Diversity Offices in the U.S. and at its Basel headquarters “will focus on inclusion and belonging, and responsibilities will be re-scoped accordingly”. Diversity was not mentioned under the Offices’ new remit.

According to a memo to global staff made available to Reuters, the changes were made to ensure that Roche “can continue to deliver medicines and diagnostic solutions to patients”.

A number of U.S. companies have been scaling back diversity, equity and inclusion programmes since U.S. President Donald Trump declared some elements of DEI illegal and threatened possible investigations into firms that practice it.

Among companies not headquartered in the United States, Swiss bank UBS this week scrapped references to establishing women in management roles and hiring employees from ethnic minority backgrounds from its 2024 annual report.

Roche said the changes would also take effect outside the United States “because our global programmes and goals can have an impact on our US organisations if we are not compliant under the new law”, according to the memo.

(Reporting by Paul ArnoldWriting by Ludwig BurgerEditing by Rachel More)