Can Someone Work Two Full-Time Jobs?

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We just discovered that one of our full-time employees (9 a.m.-5 p.m., Monday-Friday) has been working another full-time job. The job isn’t for a competitor, but we are concerned that working 80 hours a week will reduce the employee’s ability to do his job. Can we require employees only to have one full-time job? We do have sympathy for the high cost of living, and no, we can’t afford to pay more.

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