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submitted 6 months ago by MicroWave@lemmy.world to c/news@lemmy.world

New York’s governor vetoed a bill days before Christmas that would have banned noncompete agreements, which restrict workers’ ability to leave their job for a role with a rival business.

Gov. Kathy Hochul, who said she tried to work with the Legislature on a “reasonable compromise” this year, called the bill “a one-size-fits-all-approach” for New York companies legitimately trying to retain top talent.

“I continue to recognize the urgent need to restrict non-compete agreements for middle-class and low-wage workers, and am open to future legislation that achieves the right balance,” she wrote in a veto letter released Saturday.

The veto is a blow to labor groups, who have long argued that the agreements hurt workers and stifle economic growth. The Federal Trade Commission had also sent a letter to Hochul in November, urging her to sign the bill and saying that the agreements can harm innovation and prevent new businesses from forming in the state.

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[-] iforgotmyinstance@lemmy.world 61 points 6 months ago

Why can't they retain top talent by paying them more?

[-] Stovetop@lemmy.world 19 points 6 months ago

But how would that benefit the shareholders? You're not thinking like a true capitalist!

[-] MSgtRedFox@infosec.pub 7 points 6 months ago
this post was submitted on 24 Dec 2023
676 points (99.3% liked)

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