- cross-posted to:
- news@lemmy.world
- cross-posted to:
- news@lemmy.world
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.
Forget ideas, just normal worker mobility. A couple of years ago I switched jobs.
The old company had gotten bought by a conglomerate and they were milking the product line by stopping development, stopping raises, and letting attrition do its thing. Time to leave. One of my peers found a great company still investing in their products and jumped ship. Me too. However we both had noncompetes specifically prohibiting “poaching”, so could we even talk to co-workers? Everyone lost because of this noncompete. New company missed out on potential new hires, co-workers missed a potential opportunity, and even old company attrited slower than otherwise so less profit
This is a classic case of noncompetes blocking worker mobility, hurting everyone