Sen. Calls On DOJ, FTC To Weigh Jobs In Merger Reviews
Law360, New York (November 2, 2017, 9:12 PM EDT) -- Increasing industry consolidation could have a detrimental effect on workers' mobility in the marketplace and suppress wages, and must receive sufficient consideration during the merger review process, Sen. Cory Booker, D-N.J., said in a letter Wednesday to U.S. Department of Justice and the Federal Trade Commission officials.
In his letter — addressed to DOJ Assistant Attorney General Makan Delrahim and FTC acting Chairman Maureen K. Ohlhausen — Booker warned of corporations increasingly leveraging monopsony power to create a scenario where one or several employers exercise control over the labor pool and make it difficult for workers to achieve upward mobility....
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