Noncompete agreements are no longer limited to high-ranking corporate executives; now regular workers are being required to sign them too. About 1 in 5 American workers, or nearly 30 million people, are bound by noncompete agreements, according to the Federal Trade Commission. Horror stories of workers being trapped in stagnant jobs or punished for seeking better pay elsewhere prompted New York legislators to pass a bill banning noncompete agreements. However, the bill has faced pushback from business groups, including a $1 million ad campaign against it. Wall Street sees these agreements as crucial for protecting investment strategies. Supporters of the ban argue it would offer more flexibility and agency to workers and promote innovation.
https://fortune.com/2023/11/16/new-york-may-ban-noncompete-employment-agreements-wall-street-not-happy-kathy-hochul/