“An activist firm is asking more than 30 big-name companies from Tesla Inc. to Apple Inc. to disclose more information on employment practices that it warns may be anti-competitive,” Leslie Patton reports for Bloomberg.
“CtW Investment Group, which works with a coalition of union pension funds with more than $250 billion in assets, is sending letters to more than 30 companies seeking disclosure on their policies that it says can set workers up for reduced mobility, lower pay or even the inability to escape workplace harassment,” Patton reports. “The letters target non-compete agreements, no-poaching rules, mandatory arbitration or non-disclosure agreements, and ask directors to ultimately provide reports to shareholders on the practices.”
“CtW argues that requiring workers to solve conflicts through arbitration, instead of in a judicial court, could mean practices such as wage theft and discrimination aren’t detected or stopped,” Patton reports. “Such agreements have all come under harsher scrutiny in recent years amid the rise of the #MeToo movement and the sluggishness of wage growth. Last week, the Economic Policy Institute, whose board is chaired by AFL-CIO President Richard Trumka, released a proposed workplace reform agenda for Congress that includes banning forced arbitration, as well as almost all non-competes.”
Read more in the full article here.
MacDailyNews Take: We’ll be interested to see how Apple responds to CtW’s inquiry.
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