Subway Restaurants CEO John Chidsey says that 90% of franchisees have applied for small business loans and that their economic model is strong enough to survive the coronavirus.
Subway Restaurants is relocating several of its business units to Miami in a move that will lead to even more layoffs at its Milford, Connecticut campus, The New York Post found. The network that gained fame selling $ 5 meters in length told its employees on Thursday that it will move all of its “consumer-oriented” businesses to Miami, including cooking, marketing and “global transformation”. At least some officials have been told they would not be invited to Miami when the transition takes place in 2022, sources said to the Post.
TIKTOK CONFUSED WITH THE SANDWICH REQUEST FROM THE SUBWAY CUSTOMER: ‘THIS IS NOT A SANDWICH’
In a memo to employees on Thursday, Subway praised Miami as a place that would allow the company to “maintain control over more cultural conversations and the evolving tastes of the modern consumer.” “With its dynamic business climate, diverse population and multicultural influences, it was the ideal place for the transition of some of our consumer relationship functions,” said the memo. But the move is expected to lead to a further decrease in the company’s presence in Milford, where it has been located for so long that the city has called the road that leads to its huge campus “Subway”.
CLICK HERE TO READ MORE ABOUT FOX BUSINESS
As The Post reported last year, Subway Chief Executive John Chidsey – who joined Subway in 2019 and owns a four-bedroom, four-bathroom house near Coral Gables – signed an office lease west of Miami airport. At the time, the company insisted that it would not move its headquarters to Miami. On Thursday, the company said it got a new office in Miami that will open in the spring of 2022. “Finance, legal, development and HR and business services, which make up the majority of the company’s workforce, remain at our headquarters in Milford, ”said the memo. Chidsey spends much of his time in Florida and not in Milford, the sources said.
This article was originally published in The New York Post.