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It’s official. The feds plan to ban most employee noncompetes. But is this fire or smoke?
In January 2023, the Federal Trade Commission (FTC) proposed a rule generally prohibiting employers from imposing noncompetes on their workers. In the following year and change, the federal agency received more than 26,000 comments on the proposed rule, with over 25,000 comments supporting the FTC’s proposed ban on noncompetes.
Yesterday, the FTC voted 3-2 in favor of a final Noncompete Rule imposing a comprehensive ban on new noncompetes with all workers, including senior executives. Continue reading