Advisory Board April 24, 2024
The Federal Trade Commission (FTC) on Tuesday voted 3-2 to approve a rule banning noncompete agreements, a move that drew praise from unions and criticism — and legal action — from employers.
FTC banned noncompetes. Here are 3 things physician employers should do now.
Details on the rule
Under the rule, which was first proposed in January 2023 and will take effect in August, companies will no longer be allowed to issue noncompete agreements and will be required to inform employees with existing noncompete agreements that they will not be enforced.
FTC estimates that 18% of the U.S. workforce, or around 30 million people, are covered by noncompete agreements. According to Modern Healthcare, noncompete agreements are used in an estimated...
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