A great way to access the economy of any place is to look at the employment figures. The biggest employers in Sydney are not just the biggest companies in the area; they are also the biggest contributors to the local economy, and by ripple effect, some of the biggest contributors to the country at large. Sydney is an important part of Australia; this is the country’s capital and financial centre.
With a population of about 5,367,206, and located on the east coast of Australia; Sydney has all it takes to support a diverse range of industries and commercial activities. Sydney is therefore a potential hub for business; from financial services, retail commerce, fashion, education, technology, as well as transportation and manufacturing.
The effects of already having a good economy is that businesses become more profitable, and are thus better able to invest some of those profits in employing more workers. For apparent reasons the largest employers in Sydney are mostly retail establishments; although the specifics of the kinds of products they deal on differ from establishment to establishment.
Biggest Employers In Sydney
Wesfarmers is a conglomerate that has interests in several industries; one of the most popular being Bunnings- a home improvement chain of warehouses that are actually built in the form of shopping malls. The company employs 217,000 people, a good number of whom are located in the Sydney area.
Even though Wesfarmers is one of the heavyweights of the Sydney economy, the brand is largely out of sight; most people only identify the subsidiary companies that supply their needs. Wesfarmers are involved in the following businesses; industrial and safety products, retail, chemical, and fertilizer production and distribution.
2. Woolworths Group Limited
Woolworths Group Limited is a big Australian company with several business interests in different sectors, especially retail commerce. The company was established in Sydney in 1924. Woolworths Group Limited has around 201,522 employees, making it the biggest employer in Sydney and one of the biggest employers in Australia. Woolworths Supermarkets were first established in Sydney; but now has over 80 locations within the country. The company is making even more progress; expanding its business within Australia, and also into New Zealand.
Bunnings is a subsidiary of the Wesfarmers Company highlighted above; but it is more localized to the city of Sydney. The company has about 375 locations, and 48,000 employees, with a large number of them being in the City of Sydney and environs.
Bunnings is the dominant household hardware store in Sydney; the company supports the city with employment; the average store having more than 150 workers. Furthermore, the Bunnings brand is like a part of the city’s identity; Bunnings locations are landmarks that attract residents of Sydney regardless of age or background as they eagerly come to the locations to make purchases to improve their homes, and also those that come in for sight- seeing.
4. Westpac Banking Corporation
Westpac Banking Corporation, known simply as Westpac, is an Australian bank and financial services provider, with its headquarters located in Sydney, Australia. The company was founded as far back as 1817 as the Bank of New South Wales. In an ambitious expansion drive, the company acquired the Commercial Bank of Australia in 1982.
Then the company was renamed WestPac which obviously means “Western” and “Pacific”. It is one of Australia’s “big four” banks and is Australia’s first and oldest banking institution. With about 40,000 employees this is one of the biggest contributors to the economy of Sydney, and Australia in general. Aside from the jobs it provides, it also provides financial planning and stability to more than 14 million customers.
5. Commonwealth Bank Of Australia
The Commonwealth Bank of Australia (CBA), or CommBank traces its history as far back as 22 December 1911. It is now an Australian multinational bank with business presence across New Zealand, Asia, the United States and the United Kingdom. Some of the bank’s services include retail banking, business and institutional banking, funds management, superannuation, insurance, as well as investment banking.
This mega company has its headquarters in Sydney, and it supports the local economy, as well as the economy of the entire country, and other places where it has business. CommBank employs about 43,585 people in total.
6. The Australia And New Zealand Banking Group Limited
The Australia and New Zealand Banking Group Limited is one of the biggest players in the Australian banking and financial services sector. The company is multinational, and has significant operations in New Zealand.
The company was established on 1st October 1970, and has grown to become one of the most outstanding Australian commercial enterprises. The Australia and New Zealand Banking Group Limited employs about 40,211 people throughout its operations, and a good number of that are in Sydney.
7. National Australia Bank
National Australia Bank is one of the four largest financial institutions in Australia. The financial institution was established 1 October 1970, and is one of the major forces of the Australian Financial Scene.
The company has about 35,063 employees, and serves much more than 9 million customers, in Melbourne, Sydney, and several other locations across the world. While the company is not headquartered in Sydney, it has several locations in the city, and supports the city with many jobs.
BHP is a major mining and refining company that has operations in Australia, and other parts of the world. The company produces Copper, Iron Ore, Coal and Nickel, among other minerals. The company has about 27,161 employees while other people profit from the company as investors. The company recently moved its headquarters to Sydney, meaning that it will contribute even more to the local economy.
The biggest employers in Sydney are companies that are focused on growth, rather than stashing away profits. As they make money they invest in new branches, more services, and ultimately more employees. It is therefore expected that they continue to dominate the economy of the city, and the country at large. For some unexplained reason, the top employers continue to be the ones that attract the most potential employees, further strengthening their workforce.