FTC Bans Noncompete

The Federal Trade Commission has banned noncompete clauses in contracts. The FTC states "Noncompetes are a widespread and often exploitative practice imposing contractual conditions that prevent workers from taking a new job or starting a new business. Noncompetes often force workers to either stay in a job they want to leave or bear other significant harms and costs, such as being forced to switch to a lower-paying field, being forced to relocate, being forced to leave the workforce altogether, or being forced to defend against expensive litigation. An estimated 30 million workers—nearly one in five Americans—are subject to a noncompete."

As many wrestling fans know, most wrestlers especially, WWE ones, are held to these noncompete clauses. Unfortunately, those recently released will still be held to their noncompete. The ruling will go into effect 12o days from now according to the tweet below.

Current contracts do not have to be altered to rescind noncompete clauses. "“Right now workers are stuck in place because of these noncompetes,” FTC chair Lina Khan told More Perfect Union (the news source we found it on) in an interview about the rule. “So even if they get a better job opportunity with higher wages, with better benefits, they can't actually switch jobs, which is bad for those workers. It's also bad for other workers who won't have the opportunities that are not being created because of these noncompetes.” To read their full article click here.

If you have time to kill you can read the official 570 page document at the FTC website.