The Federal Trade Commission on April 23 banned employers from using noncompete contracts to prevent most workers from joining rival firms. The rule prohibits companies from enforcing existing noncompete agreements on anyone other than senior executives.
Sales staff, engineers, doctors and salon workers are among the most common types of workers affected by companies’ enforcement of noncompete clauses.
Source: The Wall Street Journal, April 23, 2024. Link.
Also see: Bloomberg, April 23, 2024. Link.
Robbing people of their economic liberty also robs them of all sorts of other freedoms.” Lina Khan, J.D. FTC Chair