The median B.C. employment for the top 100 tech companies fell 14.4% to 137 employees in 2018 from 160 employees in 2017.
The decrease follows a 57.6% increase in median employment from 2014 to 2017, according to data collected for Business in Vancouver’s list of the top 100 technology companies in B.C. (see pages 10, 12, 14, 16 and 17).
The average local employment for the top 100 tech companies fell 5.4% in 2018 from 2017, down nearly double the 3.2% increase recorded during the previous four years.
The decrease more than wiped out all the employment gains made in the previous four years.
Since 2014, average local employment dropped more significantly than median employment, suggesting that companies in the bottom half of BIV’s top-100 list had greater employment gains over the period.
The almost 200% drop in 2018 in average local employment relative to the 14.4% drop in median employment also suggests that the companies lower on the list had smaller employment losses over the past year.
This can be seen with Eventbase Technology Inc., which had the largest jump in rankings over the last five years: to 56th in 2018 from 99th in 2014. Its local employment increased to 120 in 2018 from 38 in 2014.
Westport Fuel Systems Inc. (TSX, Nasdaq:WPRT) had the largest decline in list ranking, dropping 25 places.
Westport fell to 40th in 2018 from 15th in 2014. The drop was caused by a 57.6% decline in local employment (to 194 employees in 2018 from 458 in 2014).
QuickMobile Inc. dropped 23 places to 63rd in 2018 from 40th in 2014 as its B.C. employment decreased to 100 in 2018 from 182 in 2014.
Meanwhile, Amazon’s (Nasdaq:AMZN) revenue growth far outpaced the other four largest publicly traded companies on the list.
Over the five-year period, Amazon’s revenue grew 138.9% to US$177.9 billion in 2017 from US$74.45 billion in 2013.
Amazon’s 2016-17 revenue growth of 30.8% more than tripled the 8.1% growth of Shaw Communications Inc. (TSX:SJR.B), the second-fastest-growing public company in the top five. •
