🧑‍⚖️ FTC drops the hammer

👋 Happy Thursday! And happy (belated) Earth Day. In celebration of the holiday on Monday, Wisconsin Governor Tony Evers announced that his state will plant 100 million trees by the end of 2030. How’s that for a green thumb?

At RecruitmentMarketing.com, we know our Earth Day strengths, and it’s not gardening. Instead, we’re hosting an upcoming webinar on how talent pros like yourself can leverage sustainability to support your employer branding efforts. Register today so we can all leave the planting to Tony. 🌲

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Today’s edition is a 5-minute read. Here’s what to expect👇

🗞️ FTC bans non-competes
💰️ New ILO climate report
📋 Rippling announces Series F
💻 Angi, Chime, hiring for TA roles
💼 Layoffs at Nike

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On Tuesday, the Federal Trade Commission voted to ban non-compete agreements that prevent millions of employees from working for competitors or starting a competing business after leaving their roles.

What’s the big deal?
Well, for starters, this impacts a lot of people: The FTC estimates that 18% of the U.S. workforce is covered by non-compete agreements. That’s about 30 million folks—slightly more people than the entire population of Australia. That’s a lot, mate.

Non-competes for … making sandwiches?
We should keep in mind that non-competes aren’t just for business executives. In fact, existing non-competes for senior executives represent less than 1% of total contracts. Instead, they’re known to be particularly pernicious across low-wage jobs, especially at fast-food chains. A survey by the Economic Policy Institute found roughly 30% of workplaces offering less than $17 per hour required non-competes in their employment contracts. Some of you may even remember the infamously oppressive non-compete clause in Jimmy John’s employment contract—targeting its sandwich makers—that made national headlines nearly a decade ago.

“Unfree and unfair.”
In her remarks on the ruling this week, FTC Commissioner Rebecca Slaughter made clear that the move was designed, in part, to protect the class of workers struggling most under these restrictions. “It is so profoundly unfree and unfair for people to be stuck in jobs they want to leave, not because they lacked better alternatives, but because non-competes preclude another firm from fairly competing for their labor, requiring workers instead to leave their industries or their homes to make ends,” she said. America's largest labor group, the AFL-CIO, lauded the ruling in a post on X, saying non-compete agreements "trap workers from finding better jobs, drive down wages, and stifle competition."

The economic impact.
Experts argue that the ruling would not only enhance competition but also raise wages (estimated at $300 billion in total increased earnings annually). And since non-competes also prevent individuals from launching new businesses, economists say the ruling will promote innovation, and encourage new business formation.

The Chamber enters the ring.
On Tuesday, the U.S. Chamber of Commerce, the largest pro-business lobbying group in the country, has said it will sue to block the rule. Chamber President and CEO Suzanne Clark called the FTC vote an aggressive overreach that hurts U.S. businesses. “This decision sets a dangerous precedent for government micromanagement of business and can harm employers, workers, and our economy,” she said. “The Chamber will sue the FTC to block this unnecessary and unlawful rule and put other agencies on notice that such overreach will not go unchecked.”

📥️ Read more from RecruitmentMarketing.com

NUMBERS

Numbers That’ll Make You Think

• 2.4 billion — The number of workers globally exposed to health hazards caused by climate change, according to a new report from the International Labour Organization (LinkedIn News)

• 2.0% — The jobless rate in North Dakota, the lowest unemployment rate in the U.S. (SIA)

• 5.3% —The jobless rate in California, the highest unemployment rate in the U.S. (SIA)

• $49.7 million — The compensation package of Warner Bros. Discovery CEO David Zaslav in 2023, up 26% from the year prior, despite a disastrous year for the company on several measures (LA Times)

• 4 million — The number of U.S. workers now eligible to receive overtime pay, following a new Labor Department rule that lifts the salary ceiling for those who qualify to $58,600 per year (LinkedIn News)

INDUSTRY INSIGHTS

M&A Deals, Industry Moves, & Other Things To Know

• HR tech startup Rippling secured $200M in Series F funding, upping its valuation to $13.5B (TechCrunch)

• Jobs website ZipRecruiter said Qasim Saifee resigned from his position as chief operating officer earlier this month (SIA)

• Healthcare staffing platform ShiftMed acquired CareerStaff Unlimited from Genesis HealthCare (SIA)

• A former Boeing employee is speaking out about his colleagues who frequently mishandled manufacturing parts to meet company deadlines (NYT)

• Programmatic job ad software AcquireROI and TA communication tech provider PivotCX announced a strategic partnership (PivotCX)

• Former Martec employer brand head Kelly Estrada joined Snowflake as senior talent brand manager (LinkedIn)

• Tech giant Google said it will scrap minimum wage and benefits rules for suppliers and staffing firms (Reuters)

• Software company Oracle said it will move its corporate headquarters to Nashville to be closer to healthcare companies in the area (WSJ)

WEBINAR

Join RecruitmentMarketing.com for an insightful webinar that explores the intersection of sustainability and recruitment marketing in light of the recent SEC reporting requirements. Learn from industry leaders how to extend your company's sustainability practices into your employer brand, to attract people aligned and motivated by purpose and impact.

Discover how sustainability can set your company apart in the competitive job market, attract top talent, and showcase your commitment to corporate responsibility.

📅 May 7 | 🕜 1:00 PM ET | 💻 Zoom
➡️ Secure Your Spot for Free

OPEN ROLES VIA TALENTCONNECT

Jobs You Might Want (For Yourself!)

• Fashion company Ralph Lauren is hiring a Recruiter, based in New York, NY

• Energy drink company Monster Energy is hiring a Human Resources Business Partner, based in Corona, CA

• Language learning platform Duolingo is hiring a Senior Business Recruiter, based in Pittsburgh, PA

• Financial services company Chime is hiring a People Partner, based in San Francisco, CA

• Software company Klaviyo is hiring an Executive Recruiter, based in Boston, MA

• Home services website Angi is hiring a Senior Recruiter, based in New York, NY

  
  For more of these roles delivered to your inbox every Monday, subscribe to the RecruitmentMarketing.com Weekly Jobs newsletter by clicking here.

LAYOFFS

Places For You To Source Fresh Talent

• Sportswear company Nike is cutting about 740 jobs at its global headquarters in Beaverton, OR, by the end of June (LinkedIn News)

• Content-to-commerce platform The Good Glamm Group is laying off 150 employees (Economic Times)

• Text-to-image AI startup Stability is shedding 10% of staff after a controversial exit from its CEO (CNBC)

• Biotech startup Freenome is laying off 20% of its staff, the company announced (LinkedIn)

WEEKLY POLL

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