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US Bans Noncompete Agreements For Nearly All Jobs
The Federal Trade Commission narrowly voted Tuesday to ban nearly all noncompetes, employment agreements that typically prevent workers from joining competing businesses or launching ones of their own. From a report: The FTC received more than 26,000 public comments in the months leading up to the v...
The Federal Trade Commission narrowly voted Tuesday to ban nearly all noncompetes, employment agreements that typically prevent workers from joining competing businesses or launching ones of their own. It says the policy change could lead to increased wages totaling nearly $300 billion per year by encouraging people to swap jobs freely. The ban, which will take effect later this year, carves out an exception for existing noncompetes that companies have given their senior executives, on the grounds that these agreements are more likely to have been negotiated.
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