FTC Adopts Ban on Noncompete Agreements, Faces Lawsuit from Chamber of Commerce
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#05662d09 ver:0.38

The US Federal Trade Commission (FTC) has adopted a near-total ban on non-compete agreements, which prohibit workers from switching jobs within an industry. The ban, encouraged by President Joseph Biden in an executive order three years ago, affects approximately one in five Americans. The FTC voted 3-2 to issue the final rule, which would ban most new non-compete agreements, including those of senior executives. Existing non-competes for executives earning over $151,164 a year in a 'policy making position' can remain in place. Existing non-competes with lower-level workers would become unenforceable after the rule goes into effect in six months. The rule wouldn't apply to employees of not-for-profit entities or franchises. The agency estimates that the ban would increase US earnings by at...

#newstr #Ftc #NoncompeteAgreements #ChamberOfCommerce #Lawsuit #Workers #JobSwitching #Executives 

 https://here.news/story/05662d09?ver=0.38