FTC Bans Non-Compete agreements

[fishbane]

This came too late to help Willie/@Husker_Du, but Flo will not be able to use this tactic to stop others from moving on in the near future.

"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. The FTC says employers should not enforce other existing noncompete agreements."

https://www.npr.org/2024/04/23/1246655366/ftc-bans-noncompete-agreements-lina-khan

[flyingcement]

This is one of those rare moments that you can simultaneously increase employee rights while also increasing economic output.  No-brainer that would only be blocked by lobbyists representing interests of a company - against the interests of each member of the work force in their capacity as employee - and each member of society - in their capacity to enjoy economic outputs.  

Edited April 25 by flyingcement

[Husker_Du]

bummer for me for sure. cost me a lot of money and put me out of work for a while (and i wasn't even found in violation of it).

anyway - good for others going forward.

the criticism i've heard against it is that (and idk how) it hurts high level execs. 

[Wrestleknownothing]

In the finance industry non-competes are typically combined with gardening leaves (the old employer enforcing the non-compete pays you not to work for the length of the non-compete).

I had a 6 month non-compete with a 6 month gardening leave. Greatest 6 months of my life. My neighbors called it the summer of WKN. 

[WrestlingRasta]

52 minutes ago, Wrestleknownothing said:

In the finance industry non-competes are typically combined with gardening leaves (the old employer enforcing the non-compete pays you not to work for the length of the non-compete).

I had a 6 month non-compete with a 6 month gardening leave. Greatest 6 months of my life. My neighbors called it the summer of WKN. 

Did you get your own bathroom?

[braves121]

I thought government regulation of business was bad though? Are we pro regulation now or is that only against  minimum wage

Edited April 25 by braves121

[JimmyBT]

5 hours ago, Wrestleknownothing said:

In the finance industry non-competes are typically combined with gardening leaves (the old employer enforcing the non-compete pays you not to work for the length of the non-compete).

I had a 6 month non-compete with a 6 month gardening leave. Greatest 6 months of my life. My neighbors called it the summer of WKN. 

Yep. That’s how mine worked.  Mine was a year though and was industry driven.  I could work as long as I stayed away from the competition. . 

Edited April 25 by JimmyBT
Additional info

[JimmyBT]

2 hours ago, braves121 said:

I thought government regulation of business was bad though? Are we pro regulation now or is that only against  minimum wage

I had no problem with mine.  It was an awesome year!!!!!

Edited April 25 by JimmyBT