FTC Announces Ban On Noncompete Agreements

Photo: Anchalee Phanmaha / Moment / Getty Images

The Federal Trade Commission has announced a new ban on 'noncompete' agreements for workers.

The new rule makes such agreements unenforceable for all but senior executives.  

Existing noncompetes would also be negated when the rules take effect in 120 days - though it's expected to face legal challenges.

An estimated 30 million U.S. workers are bound by noncompete agreements.

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