{"id":109350,"date":"2021-03-12T02:40:55","date_gmt":"2021-03-12T02:40:55","guid":{"rendered":"https:\/\/fin2me.com\/?p=109350"},"modified":"2021-03-12T02:40:55","modified_gmt":"2021-03-12T02:40:55","slug":"subway-restaurants-is-making-move-south-to-miami-from-connecticut","status":"publish","type":"post","link":"https:\/\/fin2me.com\/economy\/subway-restaurants-is-making-move-south-to-miami-from-connecticut\/","title":{"rendered":"Subway Restaurants is making move south to Miami from Connecticut"},"content":{"rendered":"
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Subway Restaurants is moving several of its business units to Miami in a move that will lead to even more layoffs at its Milford, Conn., campus, The Post has learned.<\/p>\n
The chain that rose to fame selling $5 footlongs told its staffers on Thursday that it will be moving all of its \u201cconsumer facing\u201d businesses to Miami, including culinary, marketing and \u201cglobal transformation.\u201d<\/p>\n
At least some staffers were told that they would not be invited to Miami when the transition takes place in 2022, sources told The Post.<\/p>\n
In a memo to staffers Thursday, Subway touted Miami as a place that would allow the company \u201cto keep our finger on the pulse of more cultural conversations and the evolving tastes of the modern consumer.\u201d<\/p>\n
\u201cWith its dynamic business climate, diverse population and multicultural influences, it was the ideal place to transition some of our consumer-facing roles,\u201d the memo said.
But the change is expected to lead to a further diminishment of the company\u2019s presence in Milford, where it\u2019s been located for so long that the town named the road leading up to its massive campus \u201cSub Way.\u201d <\/p>\n
As The Post reported last year, Subway Chief Executive John Chidsey \u2014 who joined Subway in 2019 and owns a four-bedroom, four-bath home in nearby Coral Gables \u2014 signed a lease for office space just west of the Miami airport. At the time, the company insisted it would not be moving its headquarters to Miami.<\/p>\n
On Thursday, the company said it scored a new Miami office that will be opening in the spring of 2022.<\/p>\n
\u201cFinance, legal, development, and HR and business services, which represent the majority of the company\u2019s workforce, remain at our Milford headquarters,\u201d the memo said.<\/p>\n
Chidsey spends much of his time in Florida and not Milford, sources said.<\/p>\n
A Subway spokeswoman on Thursday confirmed the move to Miami but declined to comment on the layoffs.<\/p>\n
“It is worth noting that the majority of the company\u2019s workforce will remain at our Milford, Conn., headquarters,” she said.<\/p>\n
Subway had 1,200 Milford workers at the start of 2020, but laid off roughly 500 people last year as the pandemic squeezed its already deteriorating business.<\/p>\n
Subway, which runs roughly 20,000 restaurants in the US, reported sales fell a massive 25 percent in the first three quarters of 2020, according to a franchisee disclosure document filed with the state of Wisconsin.<\/p>\n