BlackRock announced last week that the company, which has been a leading proponent of diversity, equity, and inclusion, will no longer have targets for the diversity of their workforce.

The asset management behemoth will combine staff members assigned to talent management and diversity, equity, and inclusion teams into a new talent and culture group. The firm will also end “aspirational workforce representation” objectives and thereby cease requiring that hiring managers interview applicants from various backgrounds for open positions at the company.

BlackRock previously revealed in 2020 that they would attempt to increase the overall representation of black and Hispanic employees by 30% for their workforce in the United States, as well as double the number of company leaders claiming such racial identities in 2024.