Federal Trade Commission Votes Approval To Ban Non-Compete Agreements
Federal Trade Commission votes on noncompete ban.
On Tuesday, the Federal Trade Commission voted 3-2 to approve a ban on noncompetes for all workers when the regulations take effect in 120 days. Companies will also have to throw out existing noncompete agreements.
The rule could still be challenged in court.
It is unclear if or how the rule would affect wrestling talent. Talent released by WWE is subject to a 30—or 90-day noncompete, but the company still pays them during that time. Wrestlers are also classified as “independent contractors” and not employees.
BREAKING: The FTC just banned non-compete agreements.
The Federal Trade Commission has issued a final rule making it illegal for bosses to make workers sign noncompetes in any scenario, and voiding nearly all existing noncompetes.
This is a game changer for American workers. pic.twitter.com/9n1tJWpQl4
— More Perfect Union (@MorePerfectUS) April 23, 2024
The WWE-UFC merger to form TKO Group was subject to FTC approval.
The FTC estimates that 18 percent of the U.S. workforce is covered by noncompete agreements — around 30 million people.
Fightful will provide more information on the rule, and if it affects wrestlers, when it is known.
