Wall Street Wins Bid to Keep Non-Compete Clauses in New York
New York would have become the second most populous state to ban these clauses, joining California, which has had the restriction in place for more than a century.
Photographer: Victor J. Blue/BloombergThis article is for subscribers only.
Gov. Kathy Hochul (D) vetoed legislation that would have banned employee non-competes in New York, after facing intense pressure from Wall Street, hospitals, and business groups that opposed the measure, according to sources familiar with the matter.
The legislation (S3100) rejected by Hochul Friday would have barred employers from imposing contract language that prohibits employees or other “covered individuals” from obtaining employment after leaving their current jobs.