Many companies are pulling back from the Pride parades that will take place across the country next month, Axios Communicators author Eleanor Hawkins reports.
It's a major pivot for corporate America, which has enthusiastically embraced LGBTQ+ rights but is now under increasing pressure to back away from diversity programs and related public positioning.
⛔️ State of play: Mastercard, Citi, Pepsi, Nissan and PwC pulled sponsorship of NYC Pride. Booz Allen Hamilton and Deloitte pulled out of WorldPride Washington, D.C., and Anheuser-Busch, Comcast and Diageo stopped sponsoring San Francisco Pride.
39% of corporations are scaling back external Pride Month engagements this year, according to Gravity Research data.
57% of companies that are federal contractors plan to reduce external engagement, highlighting the risk of federal investigations.
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