Sources: U.S. Department of Labor; CP staff
A new memorandum of understanding between the U.S. Departments of Labor and Justice, National Labor Relations Board and Federal Trade Commission is intended to strengthen competition by better coordinating information antitrust agencies use to evaluate potential impacts of mergers and acquisitions on labor markets. The document sets out several methods to obtain relevant information on labor issues during merger investigations:
- Soliciting information from worker stakeholders and organizations;
- Seeking production of additional information and data related to labor markets from filing entities;
- Using public data sets from the department and NLRB; and,
- Continuing to coordinate under pre-existing interagency memorandums of understanding.
“Workers are the backbone of our economy, and it’s critical that the impact on workers and the labor market are given due consideration when analyzing mergers and acquisitions,” says Acting Secretary of Labor Julie Su. “The Department of Labor is committed to providing information and data to strengthen the Department of Justice and Federal Trade Commission’s understanding of labor markets, and we look forward to deepening our work to protect workers by promoting fair competition in labor markets.”
“Competition in labor markets means higher wages, better working conditions, and more opportunities for workers,” adds Justice Department Antitrust Division Assistant Attorney General Jonathan Kanter. “Our partnership with the Federal Trade Commission, National Labor Relations Board and the Department of Labor will help us identify and act against mergers that threaten to harm competition for workers.”
“Congress passed the antitrust laws to ensure that all Americans benefit from free and fair competition. When businesses vigorously compete for workers, workers enjoy better wages and working conditions as well as greater opportunity and freedom,” concludes FTC Chair Lina Khan. “By deepening partnerships with the National Labor Relations Board, the Department of Labor and the Justice Department’s Antitrust Division, the FTC will keep building on our whole-of-government efforts to ensure that all Americans can get a fair shot in our economy.”