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> “They’re just becoming ubiquitous,” she said, “as people are trying to find creative ways to move around noncompete restrictions,” which are gaining traction
by gnicholas 3y ago
> “They’re just becoming ubiquitous,” she said, “as people are trying to find creative ways to move around noncompete restrictions,” which are gaining traction at the state and federal levels.
Interesting to see how companies adapted to the changes in noncompete laws. What will be the next fallback position?
> The Federal Trade Commission has proposed a rule that would ban most noncompete clauses, including many T.R.A.s. In July, the Consumer Financial Protection Bureau released the findings of a yearlong study on employer-driven debt, saying it “poses the risk of suppressing wages and forcing workers to stay in jobs they do not want” and that “trainings may have greatly inflated valuations.”
Inflated values should not be used, but does that taint all TRAs? If they are outlawed, how will that change the hiring practices of companies that train new hires in-house?
- 6502nerdface 3y ago> Interesting to see how companies adapted to the changes in noncompete laws. What will be the next fallback position? a friend of mine just left a quantitative hedge fund recently that, in anxious anticipation of noncompetes possibly being banned in new york, asked all of its employees to sign new "nonassociation agreements" as a fallback... these basically say you're not allowed to work with your current colleagues at future employers... which is arguably more draconian than a noncompete... it would be ironic if this became the replacement. [edited for punctuation]
- londonReed 3y agoYou can just say Square Point...
- gnicholas 3y agoAnd here I was thinking that I wasn't the only one having trouble with iOS17's new autocorrect capitalization algorithm...
- matheusmoreira 3y agoPlease tell me they didn't actually sign that.
- adhesive_wombat 3y agoIf a non-compete isn't enforceable, how is it enforceable to control what two people, both of whom no longer have an employment contract with the old employer, do?