FTC Votes to Ban Noncompete Agreements, Boosting Worker Mobility
The FTC voted to ban noncompete agreements that bar employees from taking jobs with competitors for a set period after leaving a company. Noncompete clauses are commonly used for salespeople and other employees who interact with customers or clients, to prevent them from taking relationships to a new employer. Critics argue noncompetes unfairly limit worker mobility and career opportunities. Supporters say they protect trade secrets and business investments. The new rule faces legal challenges but could significantly impact millions of American workers if implemented.
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00:00 It's Benzinga and here's what's on the block.
00:02 The FTC voted to ban non-compete agreements that bar employees from taking jobs with
00:07 competitors for a set period of time after leaving a company. Non-compete clauses are
00:11 commonly used for salespeople and other employees who interact with customers or clients to prevent
00:16 them from taking relationships to a new employer. Critics argue non-competes unfairly limit worker
00:21 mobility and career opportunities. Supporters say they protect trade secrets and business
00:26 investments. The new rule faces legal challenges but could significantly impact millions of
00:30 American workers if implemented. For all things money visit Benzinga.com
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