Workplace articles

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FTC votes to ban most noncompete agreements nationwide, a common practice among big tech corporations

The big picture: Many companies, including those in the tech sector, often use noncompete agreements to prevent employee poaching. However, the US Federal Trade Commission now deems this practice unfair, asserting that companies have alternative methods to safeguard their intellectual property. The commission anticipates that banning nearly all noncompete agreements will enhance working conditions and foster innovation.
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Survey reveals almost half of all managers aim to replace workers with AI, could use it to lower wages

Define "collaborative"
A hot potato: A lot of companies try to assuage fears that employees will lose their jobs to AI by assuring them they'll be working alongside the tech, thereby improving efficiency and making their duties less tedious. That claim feels less convincing in light of a new survey that found 41% of managers said they are hoping to replace workers with cheaper AI tools in 2024.
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Tech layoffs are becoming the new normal

Salaries have also stagnated, layoffs are second only to the dot-com bubble
The big picture: Job cuts in the tech industry last year were attributed to the need to economize, driven by inflation and a hiring spree during the pandemic. So, what's the explanation this year, especially when many of these firms have accumulated a significant amount of cash?