Business

Nubank partners with institute to promote racial equality in the firm after co-founder's speech

In a blog post, Nubank said it created an agenda to double the size of internal team dedicated to recruiting professionals from underrepresented groups

Nubank's co-founder Cristina Junqueira during the Brazilian program Roda Viva. Photo: Screenshot/YouTube
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  • On Sunday, Nubank issued a press statement saying it was wrong;
  • Last Monday, in a Brazilian TV program, Junqueira was asked about affirmative policies and diversity within the company and said that Nubank is investing in a training program, but admitted that the level of demand is high and “it is not possible to level it down”.

The Brazilian fintech Nubank announced a partnership with an institute to promote racial equality in the company. The announcement comes after Nubank’s co-founder Cristina Junqueira speech was criticized for racism on social media.

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On Sunday, Nubank issued a press statement saying it was wrong, and announced that it will double the size of the internal team dedicated to recruiting professionals from underrepresented groups in all positions and levels of the firm, besides reinforce the search for black leaders to help in this process.

Last Monday, in a Brazilian TV program, Junqueira was asked about affirmative policies and diversity within the company and said that Nubank is investing in a training program, but admitted that the level of demand is high and “it is not possible to level it down”. The speech generated repercussions on social media, with users calling the company racist and even announcing the closure of the account.

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“We are designing a real agenda with concrete and ambitious actions for transformation in the area of ​​racial diversity, which we will share in November with the figures of our commitment,” said the fintech.

In a blog post, Nubank said that this agenda was created with officials representing the black community, specialists in racial diversity, consultants, and NGOs.

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“For now, we have just signed a partnership with the Instituto Identidades do Brasil (ID_BR) as the first step in this journey of learning and transformation. The goal is to broaden our understanding of the topic, establish our public and continuous engagement and accelerate the promotion of equality racial on Nubank,” says the Nubank statement.

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According to Nubank, the institute gives companies that are on this path the “Yes to Racial Equality” seal at the “Commitment” level, and Nubank is already included in this process. “There is an agenda to be carried out and the institute will accompany us on this journey to continue the strategic planning focused on racial issues.”