2024 Power 100: Mark Schwartz
Photo | Courtesy of Workhuman
Mark Schwartz, former CFO of Workhuman
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CORRECTION: After this story was published on April 29, Workhuman informed WBJ on May 1 that Mark Schwartz had departed the Framingham company sometime in the first quarter. This story has been updated from its original version to reflect Schwartz was a former executive at Workhuman on the date of publication.
When he was the incoming CFO of Workhuman, a tech company specializing in human resources software, Mark Schwartz had a lot of work ahead of him. The once unicorn company, meaning it was valued at more than $1 billion, has faced a number of financial setbacks.
One-tenth of the company’s global staff were laid off in 2023, as the rest of the company’s employees were told pay raises would be frozen after the company faced an abysmal quarter of client bookings, according to Business Post, an Ireland-based publication.
Schwartz took over as CFO in January but left the company shortly thereafter, as Workhuman informed WBJ on May 1 that Schwartz departed as CFO sometime in the first quarter. Back when he was the incoming financial face of one of the region’s most well-known tech companies, the press release announcing Schwartz’s arrival at Workhuman at the start of the year said he was brought in to guide the company’s legal and financial functions as it seeks to further expand its customer base.
Schwartz’s prior work experience includes taking multiple private companies public, including Markforged, an additive manufacturing company based in Waltham, and Fabrinet, a Thailand-based disk drive manufacturer, among a handful of others.
This prior experience led to speculation he was brought into Workhuman to guide the company through the IPO process. This help may be needed, as Workhuman already attempted to go public once in 2013, but pulled back from those plans the following year. If Workhuman does indeed go public, it would join a small list of publicly traded Central Massachusetts companies, potentially bringing more attention and outside investment into the area.
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