As i'm sure everyone already knows, the FTC banned noncompetes (although you have to pay attention to how "noncompete" is actually defined since some garden leave noncompete contracts may not qualify) last week. Are you guys discussing this internally? How are the executives and lawyers reacting? Some people I've talked to think it'll get overturned, but not much discussion beyond that.
Nothing so far where I am. Talked to friends in other shops, nothing their side as well. My hunch is that for now, the idea is that there’ll be significant legal challenges where there might be a stay order on this ruling till those legal challenges are settled. So, it’s probably not worth talking about. Nobody is also going to bring this up either because nobody wants to piss off their employer. Most people in the industry are actually indifferent to this or not appreciative because it takes away the paid vacation that non-compete gave them. The only people who have any benefit from this are visa workers because lack of NC makes jumping to another shop less of a pain.
I don’t see how this takes away paid vacations. Did you see the exclusions and wording around paid garden leaves in the FTC doc?
I did, it mentions that garden leaves only where the payout is the same as the employees total comp (base + bonus) are not counted as NC. Almost all shops pay only base for NC.
Overturned how? It's a policy decision not a court ruling
i think some employer bootlicking entities are suing in federal court to get it overturned. i don't really know how it works