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.

    • capital
      52•7 months ago

      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.

    • @[email protected]
      28•7 months ago

      Only exception seems to be preexisting agreements for top execs making more than ~150k yearly and having decisionmaking power.