Posted 12/23/2023, 1:48:19 AM
Hochul Likely to Veto NY Bill Banning Noncompete Agreements for Most Workers
- Gov. Hochul expected to veto major labor legislation banning noncompete agreements in NY
- Noncompete pacts block employees from leaving jobs for competing employers; depress wages
- Hochul sought changes exempting workers making under $250k/year
- Negotiations broke down over including bonuses in calculating exemption cap
- Business groups pushed back against blanket ban; claimed it would drive companies out of NY