Large Conglomerates See Improved Earnings Over Past 3 Years, But Employment Remains Stagnant

[Economy 365]

While large conglomerates have seen significant improvements in their financial performance over the past three years, employment has barely increased, according to data.

An analysis of 282 companies among the top 500 by revenue, conducted by the corporate analysis institute Leaders Index, showed that employment grew by only 0.2%, rising from approximately 1.299 million to 1.302 million people.

In contrast, revenue increased by 10.9% and operating profit surged by 81% during the same period, indicating that employment has remained virtually stagnant despite the growth in performance.

The analysis revealed that changes in employment were more closely related to revenue growth than to operating profit.

The shipbuilding and machinery sectors saw a 12.6% increase in employment, while the pharmaceutical and bio sectors also recorded an 11.5% rise.

On the other hand, the IT, electrical, and electronics sectors, including semiconductors, saw significant growth in both revenue and operating profit, but employment increased by only 0.6%.

Additionally, domestic-focused sectors such as telecommunications, retail, and food and beverage experienced a decline in employment as their revenue growth slowed down.

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