Top 10 Largest Employers In The World 2024, Biggest companies in the world by market cap

Top 10 Largest Employers In The World – The global economy is facing a precarious situation with government spending cuts and a looming private sector downturn. This has led to a jobs crisis, with many industrialized nations experiencing double-digit unemployment rates. Surprisingly, amid these challenges, numerous major businesses in both Western and emerging markets are expanding their workforce.

We have compiled a list of the world’s largest employers using data from Reuters, international stock indices, corporate websites, annual reports, and publicly available information. We’ve focus on full-time staff, except in cases where the company relies heavily on part-time workers, and we’ve clearly indicated when part-time employees are include. These massive employers operate across various sector, underlining their significance in the global job market.

Top 10 Largest Employers In The World 2024

The global economy finds itself in a precarious situation marked by government spending cuts and the looming prospect of a private sector downturn. This economic turmoil has given rise to a jobs crisis, with several industrialized nations grappling with double-digit unemployment rates. What’s intriguing, however, is that amidst these daunting challenges, numerous major businesses, spanning both Western and emerging markets, are bucking the trend and actively expanding their workforce.

Our efforts to shed light on this phenomenon led us to compile a comprehensive list of the world’s largest employers. Drawing from a wealth of data sources, including Reuters, international stock indices, corporate websites, annual reports, and publicly available information, we meticulously crafted this list. We took a predominantly full-time employment approach, with exceptions noted in cases where part-time workers played a significant role. These colossal employers hail from diverse sectors, underscoring their pivotal role in the global job market and their resilience in the face of economic adversity.

Top 10 Largest Employers In The World 2023

Top 10 Largest Employers In The World Overview

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Largest Employers In The World 2024

Global economy is navigating through challenging waters characterized by government belt-tightening and the looming specter of a private sector slowdown. This economic turbulence has given rise to a pressing jobs crisis, with several developed nations grappling with alarming double-digit unemployment rates. However, what adds a layer of intrigue to this complex scenario is the resilience displayed by numerous major businesses, spanning both Western and emerging markets, as they actively defy the prevailing trend by expanding their workforces. In our quest to shed light on this remarkable phenomenon, we embarked on the ambitious task of compiling a comprehensive list featuring the world’s largest employers.

Our data-driven approach drew from a rich array of sources, including Reuters, international stock indices, corporate websites, annual reports, and publicly available information, ensuring meticulous accuracy. We primarily focused on full-time employment, while also acknowledging instances where part-time workers played a substantial role in these organizations. These mammoth employers originate from a multitude of sectors, illustrating their central role in the global job market and their remarkable ability to persevere in the face of economic adversity.

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The US Department of Defence: 2.86 million people

The United States Department of Defense is the world’s largest employer, with a total workforce of 2.86 million people, including civilian employees and serving personnel. Notably, it encompasses the largest military force globally, with a defense budget that reached $738 billion in 2020.

Top 10 Largest Employers In The World 2023

This department, part of the federal executive branch, holds the crucial responsibility of organizing and overseeing all government sectors and services related to national security and the United States Armed Forces. As of June 2022, it employs approximately 1.34 million active-duty service members, including soldiers, marines, sailors, airmen, and guardians.

Walmart: 2.2 million

Walmart, with 2.2 million employees in the United States and a few other countries, stands as the world’s largest private-sector employer. It boasts a staggering market capitalization of around $559 billion and holds the title of the world’s largest company in terms of revenue. Among its notable affiliates is Massmart in South Africa. This global retail giant, operating over 9,600 stores in 28 countries, is renowned as the world’s top employer. It was founded in 1962 by entrepreneur Sam Walton, and the Walton family, with a substantial 48 percent ownership stake, ranks among the world’s wealthiest families.

Top 10 Largest Employers In The World 2023

Walmart’s employee count grew significantly, rising by nearly 17% from 1.8 million in 2005 to 2.1 million in 2010. The company was also highly efficient in generating substantial revenues and profits per employee during this period. Compared to 2005, its yearly sales per employee increased by approximately $27,000, and its profit per employee increased by $900. Out of its 2.1 million global workforce, around 1.4 million employees are based in the United States. Walmart is a major employer in Canada and Mexico outside the United States, contributing significantly to the job market in these countries. The company’s international sales in a particular quarter reached an impressive $109 billion.

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People’s Liberation Army (PLA): 2.185 million

The People’s Liberation Army (PLA) is the world’s largest army, consisting of 2.185 million active and reserve members. This military force is divided into five branches: the Ground Force, Navy, Air Force, Rocket Force, and Strategic Support Force, and it has undergone significant modernization.

Top 10 Largest Employers In The World 2023

The PLA has its origins in the communist-led Nanchang Uprising in 1927 against the Nationalists. Initially called the Red Army, it grew from 5,000 soldiers in 1929 to 200,000 by 1933 under the leadership of Mao Zedong and Zhu De. Only a small fraction of this force survived the arduous Long March as they retreated from the Nationalists. After rebuilding its strength, the Eighth Route Army later fought alongside the Nationalists against the Japanese in northern China during World War II. Following World War II, the communist forces, known as the People’s Liberation Army, defeated the Nationalists, leading to the establishment of the People’s Republic of China in 1949.

McDonald’s:1.7 million

McDonald’s, one of the world most valuable brand and one of only three American company in the top ten global employer, was found in 1955 by American entrepreneur Ray Kroc. With over 33,000 restaurant worldwide, the majority (over 80%) are operated by independent franchisees, spanning 118 countries.

Top 10 Largest Employers In The World 2023

In a remarkable move on “national hiring day” earlier this year, McDonald’s hired a whopping 62,000 Americans in a single day, surpassing its initial goal of 50,000 new employ to expand its American workforce by 7%. In 2010, Europe contributed 41% to McDonald’s global sales, making it the company’s largest market, while the rest of the world added about 21%, and the United States accounted for 34% of its revenue.

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China National Petroleum Corporation: 1.5 million

China’s oil and gas production is exclusively overseen by China’s National Petroleum Corporation (CNPC). With a colossal workforce of 1.5 million employees, CNPC operates drilling rigs and refineries in around 30 countries, including Azerbaijan, Canada, Venezuela, and Iran.

Top 10 Largest Employers In The World 2023

CNPC holds the distinction of being the largest integrated oil and gas corporation in China and is involved in various projects in countries like Iraq, Iran, Syria, and Uzbekistan. Unfortunately, there have been incidents resulting in six fatalities since 2005, and environmental concerns have arisen due to contamination of rivers and oceans.

Indian Armed Forces: 1.45 million employees

India’s Armed Forces consist of just over 1.45 million active members and 1.2 million reserve soldiers, covering the Army, Navy, and Air Force. The country’s military spending has notably increased, going from $56.64 billion in 2016 to $71.12 billion in 2019.

Top 10 Largest Employers In The World 2023

The Indian Armed Forces are under the jurisdiction of the Ministry of Defence, part of the Government of India. It ranks as the world’s second-largest military with the largest volunteer army, boasting over 1.4 million active personnel. Additionally, it holds the third-largest defense budget globally. In terms of military power, it stands as the fourth-most potent military, as assessed by the Global Firepower Index.

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Indian Railways: 1.4 million

India’s state-owned railway network is a massive operation, employing over 1.4 million people and earning recognition for its punctuality and sheer size. An astonishing 8.1 billion passengers utilize this extensive network, which encompasses both suburban and long-distance services, covering vast distances every year.Indian Railways (IR), a government-owned statutory organization operating the entire national rail system, falls under the Ministry of Railways. As of March 2022, its total route length extended to 68,103 km (42,317 mi), ranking it as the world’s fourth-largest national railway system in terms of coverage.

Top 10 Largest Employers In The World 2023

By the beginning of April 2022, 25 kV 50 Hz AC electric traction will be employ on 83% of all broad-gauge railway, covering 52,247 km (32,465 mi). As of March 2020, Indian Railways possess an extensive fleet, including 12,729 locomotives, 76,608 passenger coaches, and 293,077 freight wagons. The organization operates locomotive and coach production facilities across various locations in India. With 1.254 million employees as of March 2020, Indian Railways ranks as the sixth-largest employer globally. The government has pledged to electrify every rail line in India by 2024–2025 and aims for “net zero” carbon emissions railways by 2030.

National Health Service of the UK: 1.34 million

The National Health Service (NHS), the world’s oldest public healthcare institution, also ranks among the largest employers globally. As of May 2021, the NHS workforce comprises approximately 1.34 million individuals, encompassing a wide range of roles, from clinical staff to emergency contact center employees.

Top 10 Largest Employers In The World 2023

Within England, the NHS employs 1.5 million people, with personnel costs accounting for about two-thirds of the funds allocated to NHS providers. It stands as one of the major global employers and holds the distinction of being the largest employer in the country. Despite its sizable workforce, the NHS is facing challenges in keeping pace with increasing demand for healthcare services. This includes shortages and workforce-related issues that impact healthcare delivery, making it crucial to understand the size and composition of the current NHS staff and the challenges it faces in meeting healthcare demands.

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Amazon: 1.3 million

Amazon stood out during the pandemic by launching a significant hiring initiative, expanding its workforce from 800,000 to 1.3 million individuals. This number includes both part-time and full-time employees, as well as freelancers and temporary workers. The company was originally name Cadabra and was found in 1994 by Jeff Bezos, with its headquarter in Seattle, Washington, USA. In the past year, Amazon report a net income of approximately $21.331 billion.

Top 10 Largest Employers In The World 2023

Amazon is known for disrupt establish industries through technological innovation and aggressive reinvestment of its earning into capital expenditures. As of 2021, it held the top position in terms of revenue and market share in various domains, including online retail, smart speakers, cloud computing through AWS, and global internet services. The subscription service Amazon Prime, with over 200 million global subscribers, played a key role in Amazon surpassing Walmart in 2021 to become the world’s largest retailer outside of China. In terms of private employment, it ranks as the second-largest employer in the country.

Foxconn: 1.3 million

China’s largest private employer is Foxconn, a subsidiary of Taiwan’s Hon Hai Precision Industry Company, commonly known as Foxconn. This contract manufacturer, although facing controversy over worker conditions, is a major producer of technology for companies like Apple, Samsung, and others. Surprisingly, despite replacing 50% of its workforce with robots by 2016, Foxconn still employs 1.3 million people. The company, initially established in 1974 under the name Hon Hai Precision Industry Co. Ltd. by Terry Gou, is headquarter in Taiwan’s New Taipei’s Tucheng District and generates annual revenue exceeding $132.19 billion.

Top 10 Largest Employers In The World 2023

FAQ’S

Who is largest employer in the world?

The United States Department of Defense is the world's largest employer, with a total workforce of 2.86 million people, encompassing both civilian employees and serving military personnel.

Who is India's largest employer?

Rank Employer Year 1 Indian Armed Forces 2021 2 Indian Railways 2021 3 Paramilitary forces of India 2021 4 Tata Group 2022

Who is the 6th largest employer in the world?

Compass Group PLC ranks as the world's sixth-largest corporate employer with a workforce of 410,074 employees, as per the My Global Career 500 listing compile by the My Global Employer blog-base careers site.

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