Employers have been banned from adopting or enforcing clauses restricting workers’ ability to move to competitors, marking a pivotal change to the employment landscape that could improve working conditions in Hollywood.
The Federal Trade Commission on Tuesday voted 3-to-2 to ban noncompetes, which typically prevent workers from taking a new job at a rival company or starting a new business in the same field for a certain amount of time after they leave a company. On top of possibly raising pay for workers across the board by allowing them to freely solicit offers from competitors, the move could also complicate hiring in an industry rife with firms concerned about protecting confidential information and trade secrets.
“The new FTC rule shines a klieg light on how best to retain quality employees in the industry — noncompetes are on their way out, so companies need a better solution,” says Anthony Oncidi, co-head of...
The Federal Trade Commission on Tuesday voted 3-to-2 to ban noncompetes, which typically prevent workers from taking a new job at a rival company or starting a new business in the same field for a certain amount of time after they leave a company. On top of possibly raising pay for workers across the board by allowing them to freely solicit offers from competitors, the move could also complicate hiring in an industry rife with firms concerned about protecting confidential information and trade secrets.
“The new FTC rule shines a klieg light on how best to retain quality employees in the industry — noncompetes are on their way out, so companies need a better solution,” says Anthony Oncidi, co-head of...
- 4/24/2024
- by Winston Cho
- The Hollywood Reporter - Movie News
IMDb.com, Inc. takes no responsibility for the content or accuracy of the above news articles, Tweets, or blog posts. This content is published for the entertainment of our users only. The news articles, Tweets, and blog posts do not represent IMDb's opinions nor can we guarantee that the reporting therein is completely factual. Please visit the source responsible for the item in question to report any concerns you may have regarding content or accuracy.