Posted 12/23/2023, 9:58:06 PM
Hochul Vetoes Bill Banning Noncompete Agreements, Cites Need for Flexibility
- New York governor vetoes bill that would have banned noncompete agreements
- Gov. Hochul said bill was a "one-size-fits-all approach"; she's open to future legislation
- Labor groups argued agreements hurt workers and economy; FTC also urged Hochul to sign bill
- Business groups said agreements necessary to protect company strategies and retain talent
- Nearly 30 million American workers bound by noncompete agreements, reducing competition