Earlier quoted context omitted.
IANAL, but AFAIK there is no exception for employees. The employee still holds the copyright, but there is usually a clause in the employment contract that gives the employer "unrestricted usage rights" for any copyrightable product of the employee. Especially software developers should read those parts of their employment contracts carefully, as they may be overly broad and sometimes accompanied by weird clauses reg…
If the employee still owns the copyright, does that mean employees could continue to use that software after they leave the company?
I don't know about the exact implications for creating very similar future work (what you would call "infringing copyright") though.