FTC bans non-compete agreements, impacting US job market
ft.com —
The US Federal Trade Commission voted 3-2 to ban non-compete agreements, affecting most employees and new contracts starting in August. This move by chair Lina Khan is expected to impact Wall Street businesses, potentially leading to more job mobility and competition for talent. Industry groups fear decreased competitiveness and increased compliance costs. Legal challenges are expected, with potential implications for employee bonuses and trade secret protection.