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Daniel Schwartz quoted in American Cities Business Journal Article Entitled "Are Big Tech's Layoffs a Harbinger of Things to Come? Experts Are Divided"

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January 26, 2023

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Daniel A. Schwartz

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dschwartz@goodwin.com

Daniel A. Schwartz was quoted in the American Cities Business Journal's article entitled "Are Big Tech Layoffs a Harbinger of Things to Come? Experts Are Divided." According to Dan, tech firms have grown by leaps and bounds over the years, but this problem is not exclusive to tech companies and could impact other large companies.

“It’s a bit of a canary and the coal mine lesson. In the case of tech companies, they experienced rapid growth in the last three years and have realized they have more staff than their business model can support. It’s a painful lesson and one that tech companies haven’t had to deal with in quite some time,” Schwartz was quoted as saying in the article.  “For others, it’s a sign that the higher interest rates are creating a tighter market. If they are not already thinking about what would happen if their business sector starts shrinking, now’s the time.”

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