A Short List of the Largest Swedish Employers by the Number of Employees, Profits and the Profits per Worker

The following provides a few statistics about the number of employees, the profit produced by the Swedish workers and the profit produced per worker of the largest employers in Sweden–often one of the idealized countries of the social-democratic left, where free public services are more extensive than in many other developed capitalist countries. 

It can be found at the following site: The Twenty Largest Swedish Employers by the Number of Employees, Profit and Turnover (Revenue).

Please note that the specific employers, the order of employers and the statistics may be different from those indicated below since the website is occasionally updated. Between the time I  started to work on this post and its posting, some of the employers had changed and so too had the numbers; I had to add some employers’ names and delete others as well as recalculate everything,

I will start with conclusions first and then proceed to the statistics and calculations on which the conclusions are based.

Conclusions First

The above workers in the last table, then, on average, produced $62,893 free of charge to the Swedish employers in one year. Sweden, despite greater access to free public services, is characterized by systemic exploitation of the working class. Furthermore, it is characterized by oppression of these workers even when workers are producing the equivalent of their own wage rather than producing a profit (or surplus value) for the employer (see The Rate of Exploitation of Magna International Inc., One of the Largest Private Employers in Toronto, Part Two, Or: Intensified Oppression and Exploitation).  

The purpose of the above is mainly to highlight that the social-democratic heaven of Sweden is hardly the heaven painted by social democrats or social reformers. In Sweden, like other capitalist countries, workers are used as means to obtain more money (see The Money Circuit of Capital). They are both exploited (perform more work than is necessary to produce the equivalent of their own wage), and they are oppressed (subject to the dictates of their employer–both when they produce the equivalent of their wage and when they produce a surplus value for free for the employer (see The Rate of Exploitation of Magna International Inc., One of the Largest Private Employers in Toronto, Part Two, Or: Intensified Oppression and Exploitation). 

The expansion of free public services and systematic exploitation of workers can go hand in hand. Social democrats, however, often present the expansion of free public services as the solution to the social problems that we face (see, for example, A Basic Income Versus the Expansion of Public Services? Part One: Critique of the Social-democratic Idea that the Expansion of Public Services is Socialist). However, the expansion of free public services could form part of the solution–if it is linked to a movement for the abolition of the power of the class of employers and not just as the solution to the problems we face. 

Data on Swedish Employers

The Largest Employers in Sweden According to the Number of Employees

 
  Company       Number of employees  
 

1

Securitas AB   302 055 ChangeValue
 

2

H & M Hennes & Mauritz AB   126 376 ChangeValue
 

3

Ericsson, Telefon AB LM     94 503 ChangeValue
4 Volvo, AB   93 731 ChangeValue
5 Assa Abloy AB   48 992 ChangeValue
6 Electrolux, AB   48 652 ChangeValue
7 Scania CV AB     47 489 ChangeValue
8 Scania AB     47 489 ChangeValue
9 Essity AB   45 980 ChangeValue
10 SKF, AB   41 559 ChangeValue
11 Volvo Car AB     41 517 ChangeValue
12 Sandvik AB   41 120 ChangeValue
13 Atlas Copco AB     37 805 ChangeValue
14 Skanska AB   34 756 ChangeValue
15 Carl Bennet AB     28 825 ChangeValue
16 PostNord AB   28 627 ChangeValue
17 Loomis AB   24 895 ChangeValue
18 ICA Gruppen AB     23 125 ChangeValue
19 Trelleborg AB   22 952 ChangeValue
20 Axel Johnson Holding AB   22 291 ChangeValue

Some explanations are in order since some of the companies seem to be repeated.

  1. From Wikipedia: “The heavy truck and construction equipment conglomerate AB Volvo and Volvo Cars have been independent companies since AB Volvo sold Volvo Cars to the Ford Motor Company in 1999.”
  2. According to Prospectus Scania (1999): “The principal subsidiary of Scania AB is Scania CV AB. It is a wholly-owned subsidiary of Scania AB and comprises all Scania operations outside Latin America.” Hence, it would seem that for the purposes of the statistics Scania CV AB and Scania AB are identical. That is why I included 21 companies–they ar

A further measure is according to profit on the same webpage: I modify it somewhat to make it more meaningful for Canadian workers.

The Largest Employers in Sweden According to the Amount of Profit

 
  Company       Net profit (×1000) SEK (SEK is the Swedish Krona or unit of money,  around $0.14 Canadian, $0.11 US,  $0.10 Euro-, 0.08 pounds, -so roughly divide by 7, 9, 10, or  12.5, respectively, to get a Canadian, US, Euro or pound  equivalent), Net profit, billions of Canadian dollars  (dividing net profit in kronas by 7 and x 1000)
 

1

Investor AB   102 650 000 $14.664286ChangeValue
 

2

Volvo, AB   46 832 000 ChangeValue$6.6690286
 

3

AstraZeneca AB   37 436 000 ChangeValue$5.348000
4 Industrivärden, AB   29 930 000 $4.275714ChangeValue
5 L E Lundbergföretagen AB   23 335 000 ChangeValue$3.333571
6 Kinnevik AB   21 573 000 ChangeValue$3.081857
7 Atlas Copco AB     21 572 000 ChangeValue$3.081714
8 Melker Schörling AB   20 013 000 ChangeValue$2.859000
9 Melker Schörling Tjänste AB   20 013 000 $2.859000ChangeValue
10 SCA, Svenska Cellulosa AB   19 539 000 ChangeValue$2.791286
11 Lundin Energy AB   18 885 500 ChangeValue$2.697929
12 Arrow AB   18 725 220 ChangeValue$2.675031
13 Vattenfall AB     18 322 000 ChangeValue$2.617429
14 H & M Hennes & Mauritz AB   17 391 000 ChangeValue$2.484429
15 Scania CV AB     16 476 000 ChangeValue$2.353714
16 Scania AB     16 476 000 ChangeValue$2.353714
17 Erik Selin Fastigheter AB     16 289 589 ChangeValue$2.327084
18 Assa Abloy AB   13 571 000 ChangeValue$1.938714
19 Volvo Car AB     13 168 000 ChangeValue$1.881143
20 Essity AB   13 040 000 $1.862857ChangeValue
 

If we combine the two tables and add some readily available data from the website that is not indicated in the two tables above–that is to say, look at companies where information is readily available both for the number of employees and for the net profit (some of the companies lack data for both the number of employees and the amount of net profit)–we can get an idea of the extent of exploitation in terms of the amount of profit generated per worker for each company as well the average amount of net profit produced (or appropriated) per worker.

I address some objections to this calculation after the tables. I calculated the Canadian equivalent (far right).

The Largest Employers According to Profit Produced or Appropriated Per Worker in Sweden

 
  Company Net profit (×1000) SEK   Number of employees Net Profit per worker SEK  Net Profit per worker (in Canadian dollars) (dividing net profit in Kronas by 7)
 

1

Investor AB 102 650 000 15,560 6,597,000ChangeValue ChangeValue$942,429
 

2

AstraZeneca AB 37 436 000 6,150 6,087,000ChangeValue ChangeValue$869,571
 

3

SCA, Svenska Cellulosa AB 19,539,000 4,253 4,594,000ChangeValue ChangeValue$656,286
4 Vattenfall AB 18,322,000 19.997 916,000ChangeValue ChangeValue$130,857
5 Atlas Copco AB 21,572,000 37,805  571,000ChangeValue ChangeValue$81,571
6 Volvo, AB 46,832,000 93,731 500,000ChangeValue ChangeValue$71,429
7  Scania CV AB 16,476,000   47,489 347,000 ChangeValue$49,571
8 Volvo Car AB 13,168,000 41,517  317,000ChangeValue ChangeValue$45,286
9  Sandvik AB 12,150,000 41,120 295,000ChangeValue ChangeValue$42,143
10 Essity AB 13,040,000 45,980 284,000ChangeValue ChangeValue$40,571
11 Assa Abloy AB 13,571,000  48,992  277,000ChangeValue ChangeValue$39,571
12  Skanska AB 7,340,000 34,756 211,000ChangeValue ChangeValue$30,143
13  SKF, AB 8,469,000   41,559 204,000ChangeValue ChangeValue$29,143
14 ICA Gruppen AB 4,402,000 23,125 190,000ChangeValue ChangeValue$27,143
15 Carl Bennet AB 5,,124,000   28,825 178,000ChangeValue ChangeValue$25,429
16 H & M Hennes & Mauritz AB 17,391,000    126,376 138,000ChangeValue ChangeValue$19,714
17 Axel Johnson Holding AB 2,237,000 22,291 100,000 ChangeValue$14,286ChangeValue
18 Ericsson, Telefon AB LM 8,762,000 94,503 93,000ChangeValue ChangeValue$13,286
19 Loomis AB 2,210,000   24,895

89,000

ChangeValue

ChangeValue$12,714
20 Electrolux, AB 2,456,000 48,651  50,000 ChangeValue$7,143

In terms of total profit per worker for all the above workers, if we sum up total profits and total employees and divide total profits by total employees, we obtain: 

Total profit: 373,147,000×1000 SEK; /7=$53.306714290 billion Canadian dollars 
Total #Employees: 847,575
Total profit per worker: 53.30671429/847,575=$62,893 per worker. The above workers in the last table, then, on average, produced $62,893 free of charge to the Swedish employers in one year. Sweden, despite greater access to free public services, is characterized by systemic exploitation of the working class. Furthermore, it is characterized by oppression of these workers even when workers are producing the equivalent of their own wage rather than producing a profit (or surplus value) for the employer (see The Rate of Exploitation of Magna International Inc., One of the Largest Private Employers in Toronto, Part Two, Or: Intensified Oppression and Exploitation).  

Some Marxists will claim that this is unscientific since many factors are excluded from consideration(such as the difference between values and prices of production, a difference that I addressed, in a preliminary way, in my comment to the post The Rate of Exploitation of Workers at Air Canada, One of the Largest Private Employers in Canada. Given the large difference in profit per worker in the first and twentieth company, divergences may be great, but without further data (the level of investment in means of production, raw materials, auxiliary materials and the like), any further refinement is impossible.

Objections to the limited nature of the data are valid.

However, my answer to its limited nature is; it is better to estimate profit per worker than not provide anything. If more accurate calculations are then provided later on, all the better. But in the meantime, at least we have an idea of the extent of exploitation of workers. Calculation of the rate of exploitation, which involves profit divided by wage, of course, would require data on wages in these companies. More accurate statistics and more refined analyses would be most welcome.

The purpose of the above is mainly to highlight that the social-democratic heaven of Sweden is hardly the heaven painted by social democrats or social reformers. In Sweden, like other capitalist countries, workers are used as means to obtain more money (see The Money Circuit of Capital). They are both exploited (perform more work than is necessary to produce the equivalent of their own wage), and they are oppressed (subject to the dictates of their employer–both when they produce the equivalent of their wage and when they produce a surplus value for free for the employer (see The Rate of Exploitation of Magna International Inc., One of the Largest Private Employers in Toronto, Part Two, Or: Intensified Oppression and Exploitation). 

The expansion of free public services and systematic exploitation of workers can go hand in hand. Social democrats, however, often present the expansion of free public services as the solution to the social problems that we face (see, for example, A Basic Income Versus the Expansion of Public Services? Part One: Critique of the Social-democratic Idea that the Expansion of Public Services is Socialist). However, the expansion of free public services could form part of the solution–if it is linked to a movement for the abolition of the power of the class of employers and not just as the solution to the problems we face. 

A Short List of the Largest Employers in Toronto, Ontario, Canada

When belonging to a leftist organization called the Toronto Labour Committee (Ontario, Canada), I worked on, in a minor position, on some statistics related to financial campaign contributions for the Toronto elections. Not being satisfied with this, I proposed that we start trying to develop a class analysis of Toronto. I indicated, though, that I did not really know how to proceed in this. I sent this over the Toronto Labour Committee listserve, and the response was–silence.

The following attempts to fill in, however inadequately, that silence.  If others can provide more detailed and sophisticated statistics and analysis (while still being comprehensible), I would much appreciate it.

In an earlier post, I provided a list of some of the largest employers in Canada, according to profit. The following is a short list of the largest employers in Toronto (where I currently live), according to employment. The reason why I think such a list would be useful is that it provides at least a somewhat concrete picture of who really has power in society and the extent of that power. Since most social-reformist leftists ignore the power of employers and assume such power as a background which they can assume as constant, they then consider their reformist policies without calling into question such power.

I hope to expand this later. If readers have better statistics or statistics from other countries or cities, feel free to comment. This should be a work in progress.

It is taken from the following, for February 2018:

Largest Enployers in Toronto According to Employment Level

It should be pointed out that these statistics are probably for the Greater Toronto Area (GTA) rather than the City of Toronto as such since the website states “This list estimates the number of residents from Toronto and surrounding area that each company employs. These numbers exclude international employees.” Furthermore, the method of collecting the data is vague (“Based on some research conducted on the number of available LinkedIn profiles, here is a list of the top 20 largest employers in Toronto as of February 2018.”) Consequently, the statistics should not be taken too literally. Nevertheless, they may give an idea of the relative order of the larger employers in relation to the level of employment.

Obviously, there are different ways of considering what the largest employers are. At least four come to mind readily: according to profit, according to employment, according to total revenue (sales) and according to assets.

The following list of the 20 largest employers lists in Toronto according to level of employment.

1. CIBC = 15,000
2. Scotiabank = 14,400
3. Magna International = 11,500
4. Rogers = 10,000
5. Bank of Montreal = 9,000
6. Bell Canada = 7,900
7. TD Bank = 6,100
8. Toronto School Board District = 5,500
9. Deloitte = 4,000
10. Hudson’s Bay Company = 4,100
11. Telus = 4, 000
12. Air Canada = 3,100
13. Toronto Transit Commission = 2,500
14. Bombardier Inc. = 2,030
15. Royal Bank of Canada = 1, 700
16. EY = 1,700
17. CGI = 1,700
18. Maple Leaf Foods = 1,300
19. PwC = 1,300
20. The Coca Cola Company = 1, 100

The total number of workers is: 107,930 workers.

In Toronto (not the Greater Toronto Area), the number of employees in 2017 was 1, 518,560. The population in Toronto in 2016 was  2,731,571; the population in the GTA was 6,417,526 in 2016. If we divide the GTA population by Toronto’s population, we have 6,417,526/2,731,571=2.34939. If we multiply this number by the number of workers in Toronto, we should have a rough estimate of the number of workers in the GTA: 2.34939×1,518,560=3, 567, 690 workers in the GTA.

If the number of workers of the 20 largest employers is divided by the number of workers in the GTA, then those workers represent only 3% of the number of workers in the GTA.

In terms of employment, the 20 largest employers in the GTA do not represent a great percentage of total employment. Nonetheless, it is likely that they do represent a substantial political force via their control over key industries (financing and communications in particular) and their influence through such organizations as the Toronto Board of Trade. On the other hand, at least in terms of employment, it is unlikely these large employers (defined as those with 500 or more employees) that constitute the bulk of employment in Toronto but rather medium (100-500 employees) and especially small employers (1-99 employees) since, in Canada, it is small businesses that employee most workers:  “As of 2017, small businesses employed 8.29 million individuals in Canada, or 69.7 percent of the total private labour force. By comparison, medium-sized businesses employed 2.37 million individuals (19.9 percent of the private labour force) and large businesses employed 1.23 million individuals (10.4 percent of the private labour force)” (Key Small Business Statistics, January 2019, page 3).

On the other hand, the value of output in Canada according to Gross Domestic Product (GDP) is, relatively, much larger for large employers than for small and medium-sized enterprises (SMEs) since the number of large employers is much smaller than the number of SMEs: “In 2014, the contribution of small businesses to gross domestic product generated by the private sector was 41.5 percent, the contribution of medium-sized businesses was 11.0 percent and the contribution of large businesses was 47.5 percent.” (Key Small Business Statistics, January 2019, page 4).

If we subtract the number of public-sector workers from the above Toronto list, we have 107,930-(5500+2500=8000)=99,930 private-sector workers, or 99,930. Dividing this by the number of workers in the GTA would result in only 2.8 percent of the working population. If, however, we consider that 10.4 percent of the private labour force is found in Canada but 47.5 percent of the GDP is produced by this labour force in Canada, then we can calculate 47.5/10.4=4.5673 times the GDP is produced by employees working for large-scale employers. We can then times this amount by 2.8 percent (4.5673×2.8)=12.79 percent. The 18 private largest employers in Toronto probably exert around 12.79 percent in terms of economic power in Toronto. Despite the limited level of employment power and the limited number of employers, the level of economic power is substantial. It would be interesting to see if this economic power is translated in various ways into political power.

(If anyone has any alternative ways of estimating economic power, I would like to know. Undoubtedly, the above is imperfect, but I fail to see anyone on the so-called left referring to major employers in Toronto having any economic and political power. There is of course the usual “capitalist this” and “capitalist that,” but very few concrete details.)

Of course, this is a very rough estimate. Furthermore, more useful statistics would include the value of the means of production and, for the 18 private companies, profits as well. In addition, there is no distinction made between part-time and full-time employees.

If we compare the 20 largest Canadian employers according to profit to the list of the largest Toronto employers, there are several on both lists: all five major banks and Rogers Communication.