FTC Bans Non-Competes

🚨 Important news for the businesses in our network 🚨

On April 23, 2024, the Federal Trade Commission (FTC) announced a game-changing ban on noncompete agreements. This decision is set to reshape employment landscapes, impacting both new and existing contracts — with only one exception for existing contracts with senior executives. Unless delayed, the ban is set to take effect in just 120 days.

Following the FTC ruling, there are several steps that businesses need to take:

1️⃣ Audit employment agreements to pinpoint affected noncompete clauses.

2️⃣ Start revising contracts to comply with upcoming regulations.

3️⃣ Develop plans to clearly communicate these changes and their implications to the workforce.

4️⃣ Consider new ways to retain top talent in a potentially more competitive environment.

Our firm is dedicated to guiding you through these changes. Let us help ensure your employment contracts and retention strategies are up-to-date and fully compliant.

Give us a call anytime.