AUGUST 21, 2023 — DANGER ON THE HORIZON?
Atlanta. Georgia-based private equity firm Roark Capital is poised to close a $9.6 billion deal with Subway Should this occur, look for management changes, cost-cutting, and personnel reductions or realignments. The handwriting is on the wall.
APRIL 12, 2021 — NOTHING GOOD HAPPENING
According to published reports, cost-cutting and layoffs are continuing and the company may be in play and looking for a suitor or partner.
It is said that ongoing activity “in addition to layoffs and store closures, Subway is relocating dozens of jobs to Miami and redesigning the company's franchise structure.”
Others are noting that Subway CEO John Chidsey appears to be following his previous game plan when he was instrumental in severe cost-cutting and sold Burger King to a New York investment firm, 3G Capital.
MAY 19, 2020 — 150 LAYOFFS, 100+ AT MILFORD, CONNECTICUT HEADQUARTERS
According to a company spokesperson, "A reduction in workforce is never an easy decision, especially during these unprecedented times. The Covid-19 pandemic has forced us to accelerate a restructuring plan for which we had been preparing. Today, we have reduced the size of our global workforce by approximately 150 employees, including a little more than 100 people at our Milford, CT headquarters, and have re-assigned some staff for better alignment and efficiencies.”
FEBRUARY 26, 2020 — Original post…
Milford, Connecticut-based Subway, the ubiquitous sub sandwich franchisor, has announced a major reduction in force resulting in 300 layoffs at its Milford headquarters representing approximately 25-percent of the HQ staff.
According to a company spokesperson…
“A reduction in workforce is never an easy decision but streamlining and simplifying our business with a smaller and nimbler workforce will help us react quickly to the changing needs of the business. Every Subway restaurant is locally owned and operated. We must do what we can to fully support our owners and our guests in every neighborhood in which we do business.
Our focus remains on ensuring Subway guests get great service and value at every restaurant they visit, our franchise owners get the full support and tools they need to help them grow and be successful and that we strengthen our overall business performance. In order to deliver on that strategy, a difficult decision was made to eliminate approximately 300 positions at our Global HQ in Milford, Connecticut.“
Many of the employees attribute the decision to CEO John Chidsey, a formerly the CEO of Burger King, who represents the first professional manager not associated with the founder’s families. His specific task is to stem the tide of franchisee defections and closures. Chidsey assumed the CEO position in November 2019.
Change is coming. There will always be a tomorrow, no matter how much you may try to ignore it. There are no guarantees in life or promises for a bright future. Just because something bad hasn't happened yet, doesn't mean it won't. It can happen to anyone, anytime, anywhere. No one is guaranteed to wake up tomorrow and still have a job by evening. Are you now wondering, Am I Next?
