Issue link: https://nebusinessmedia.uberflip.com/i/1527921
wbjournal.com | October 28, 2024 | Worcester Business Journal 53 35th Anniversary WBJ Proud supporters of Amy's first steps Changes at Central Mass. large employers Employer Community 1994 1999 2004 2009 2014 2019 2024 Footnotes UMass Memorial Health* Worcester N/A N/A 11,844 14,467 13,200 11,491 17,587 *Expanded workforce by 48% between 2004 and 2024; Harrington HealthCare System joined UMass Memorial Health in 2021. Dell Technologies (formerly EMC) Hopkinton 1,500 1,500 3,000 8,800 9,300 8,800 5,000** **Local employee count falls within a range of 5,000 to 9,999 according to Mass. Executive Office of Labor and Workforce Development. Last response to WBJ survey was in 2022 with 6,500 local employees; unable to confirm by press time the local impact of 20% global workforce reduction, leading up to August 2024, nor the 5% global workforce reduction in February 2023. Dell's $67 billion acquisition of EMC was announced in Sep tember 2015 and closed a year later. UMass Chan Medical School Worcester N/A N/A 5,017 5,594 4,282 4,339 4,157 Source: WBJ surveys as reported in legacy lists Note: UMass Memorial Health, Dell Technologies (formerly EMC), Staples, TJX Cos. Inc. and UMass Chan Medical School have consistently been in the top five largest employers in Central Mass. since 2004. However, Staples Inc. has not responded to a WBJ survey in ten years; local employee count falls within a range of 5,000 to 9,999 according to Mass. Executive Office of Labor and Workforce Development. Staples Inc. was acquired by New York, N.Y.-based Sycamore Partners in September 2017 and is no longer publicly traded. TJX Cos. Inc. last responded to a WBJ survey in 2018 with 4,175 local employees. Local employee count falls within a range of 1,000 to 4,999, according to Mass. Executive Office of Labor and Workforce Development. Market Basket - Demoulas Supermarkets made the top five largest employers for the first time in 2024 with 4,517 local employees. State minimum wage, January 1989 to January 2024 Source: Federal Reserve Economic Data, not seasonally adjusted 0 $3 $6 $9 $12 $15 Mass. hourly minimum wage $15.00 $3.65 '89 '91 '93 '95 '97 '99 '01 '03 '05 '07 '09 '11 '13 '15 '17 '19 '21 '23 '24 $6.75 $8.00 $11.00 $4.25 $5.25 0 2 4 6 8 10 12 '90 '92 '93 '95 '97 '99 '01 '03 '05 '07 '09 '11 '13 '15 '17 '19 '24 '21 Worcester county unemployment rate 10.5% 4% 3.6% 0 $3 $6 $9 $12 $15 Mass. hourly minimum wage $15.00 $3.65 '89 '91 '93 '95 '97 '99 '01 '03 '05 '07 '09 '11 '13 '15 '17 '19 '21 '23 '24 $6.75 $8.00 $11.00 $4.25 $5.25 0 2 4 6 8 10 12 '90 '92 '93 '95 '97 '99 '01 '03 '05 '07 '09 '11 '13 '15 '17 '19 '24 '21 Worcester county unemployment rate 10.5% 4% 3.6% Source: Federal Reserve Economic Data, not seasonally adjusted Worcester County unemployment rate, 1990 to 2024 (as of Jan. 1) Total Year CEO compensation 1999 John O'Brien, Allmerica Financial Group $2.5 million 2004 Joseph Tucci, EMC Corp. $7.4 million 2009 J. Raymond Elliott, Boston Scientific Corp. $33.5 million 2014 Carol Meyrowitz, TJX Cos. Inc. $22.5 million 2019 Ernie Herrman, TJX Cos. Inc. $18.8 million 2024 Ernie Herrman, TJX Cos. Inc. $22.2 million Source: SEC filings as reported in WBJ legacy lists Notes: Total compensation includes salary, bonus, option awards, stock awards, non-equity incentive plan and other annual compensation. TJX Cos. reports fiscal year figures. Highest-paid public company CEOs in Central Mass.