Posted on 04/23/2024 12:19:32 PM PDT by CFW
Federal regulators on Tuesday enacted a nationwide ban on new noncompete agreements, which keep millions of Americans — from minimum-wage earners to CEOs — from changing jobs within their industries.
The Federal Trade Commission on Tuesday afternoon voted 3-to-2 approve the new rule, which will ban noncompetes for all workers when the regulations take effect in 120 days. For senior executives, existing noncompetes can remain in force. For all other employees, existing noncompetes are not enforceable.
The FTC heard from thousands of people who said they had been harmed by noncompetes, illustrating how the agreements are "robbing people of their economic liberty," FTC Chair Lina Khan said.
The FTC commissioners voted along party lines, with its two Republicans arguing the agency lacked the jurisdiction to enact the rule and that such moves should be made in Congress.
(Excerpt) Read more at cbsnews.com ...
How in the world did they forget to include the South China Sea?
But non compete clauses usually take effect after you are no longer being compensated by that company.
Best comment of the thread.
I am for freedom.
“ It’s also going to make it harder for them to be hired.”
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Depending upon what they were working on in their previous company, CHICOM SUBSIDIARIES in the US will be very eager to hire them to pick their brains.
DON’T DOUBT THUS!😿😿🙀🙀
BLAHAHAHA!!!
“I sold a biz and the non-compete they initially asked me to sign included all North America, Central America, and the Caribbean. I laughed and said no.”
Woah, hold on there. You mean you just made the personal decision that accepting the deal and signing the non-compete was not in your best interest? Whoever heard of that? If people can just willy nilly make their own decisions, what’s the government supposed to do? (Rhetorical question)
Believe me, when you recruit an associate for $400k+ guaranteed for 2 years you have EVERY incentive to make them productive and successful. You nurture, encourage, mentor and bend over backwards to make them feel included in the family. Because, if they aren’t successful and producing their salary then you as an owner are taking it in the shorts. But, as described in my previous post, there are realities involved in ramping up production. It’s an up front investment. Non-compete clauses are a tool that allows the associate to display “skin in the game”. Get rid of that and the incentive to invest in a new hire is significantly decreased.
...and thus the court nullified them.
(FTC) nullified them.
I don’t know if this is a popular opinion but I think it is a basic human right that you own your own labor. You can enter into an agreement (contractual or otherwise) to allow someone else to benefit from that labor but the key word is allow. You retain ownership (for lack of a better word) of it, which includes where you decide to engage it.
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