Large Dutch companies adjust diversity policy because of Trump

This article was last updated on July 9, 2025

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Large Dutch companies adjust diversity policy because of Trump

Dutch listed companies revise their diversity policy. This is the conclusion of a study by Eumedion, about which the Financieele Dagblad writes. The adjustments have to do with US President Donald Trump who forces companies to stop policy that promotes inclusion and diversity.

Eumedion reports on good governance and sustainability policy at Dutch companies. The organization also ensures that companies are transparent about their policy towards their shareholders. Large companies such as ASML, Arcadis and Philips already adapted their policy.

Shortly after Donald Trump had become president for the second time, he signed a decree against diversity, equality and inclusion policy (dei). Companies that do assignments for the US government may no longer actively promote diversity. Rules about a minimum number of women within the organization or making the employee base more diverse by selecting on origin is therefore no longer allowed.

Equality opportunities?

Where many companies pursue dei policy to promote equality of opportunities and to eliminate backlogs, the US president believes that it is discriminatory. Employees should be chosen based on their qualities and that principle is affected by active dei policy, says Trump.

EUMEDion looks annually at what is said at the annual meetings of Dutch listed companies. The themes of diversity and inclusion were several times in the agendas, meeting documents and annual reports. In particular, companies that also have a lot of task in the US adapted their policy.

“Companies that have many activities in America appear to have looked at Trump’s decree with some fear,” says Rients Abma of Eumedion. “If you have the US government as a customer, then you will have to adjust the policy. That ensures a split.” According to Eumedion, these companies now write down their diversity policy differently.

ASML

Large companies such as ASML, Arcadis and Philips have already adjusted their policy, says Eumedion. Chip machine manufacturer ASML works a lot in the US and rewrote his policy for the country. In other countries it remains unchanged, ASML emphasizes, but specific goals for diversity and inclusion in the workplace no longer apply to American employees.

“There is no other way, because those are now the American rules,” says a spokesperson for the chip machine manufacturer from Veldhoven. The company does want to emphasize that much can still be done in the US. “You are no longer allowed to stick a percentage on your objective, but we remain looking for diversity, because we need that.”

Arcadis

Engineering firm Arcadis, with large assignments in the US, adjusted the remuneration policy with regard to diversity for the entire company. Until recently, a bonus was ahead if sufficient diversity was achieved, but it has since been replaced by a bonus for financial results. Arcadis draws the bonus policy in all countries the same because the company says it cooperates so much internationally.

The company says: “Initially stated in the 2024 annual report that diversity would also be a short -term objective in 2025, but this was later adjusted by the Executive Board in view of the impact of the US Executive Orders and in line with their powers.” Arcadis does say that the objective of having 40 percent women will remain intact in 2026, with the exception of the US.

Philips

Philips, which makes many medical devices in the US and supplies to the US, acknowledges that the company is in a split. CEO Roy Jakobs says that the moral standard has not changed, but that the company must take into account the laws in the country that work together. “You will have to unite those two,” says Jakobs. “It means that you have to have such a quota in the Netherlands and that you can’t do that in the US.”