Subway moves jobs from Connecticut headquarters to Miami, where the sandwich chain's CEO owns a home
- Subway is moving some jobs from its Connecticut headquarters to Miami, Florida.
- The chain's CEO has a home in Florida, and the company is based in Milford, Connecticut.
- Miami, Florida has become a hotspot for tech and finance companies in the pandemic.
- See more stories on Insider's business page.
Subway is shifting some of its workforce to Miami, Florida, where the chain's CEO owns a home.
The chain told employees that it was moving several business units to Florida on Thursday, the New York Post reported. The Post reported that "at least some staffers were told that they would not be invited to Miami when the transition takes place in 2022."
A representative for Subway confirmed the report, telling Insider that the majority of the company's workforce will remain at its Milford, Connecticut headquarters.
"We can confirm that some functional areas are moving to Miami," Subway said in a statement. "These include more consumer-facing positions in marketing, culinary and some global transformation roles. This enables the brand to establish even more seamless collaboration with our supply chain organization, the Independent Purchasing Cooperative, which is also based in Miami."
Subway CEO John Chidsey is also based in Florida, two sources with knowledge told Insider. The Post reports that Chidsey, who joined Subway in 2019, owns a four-bedroom, four-bath home in Coral Gables, near Miami. Subway declined to comment on where Chidsey is based.
Miami has become a hot spot for finance and tech companies during the pandemic.
Companies including Goldman Sachs, Citadel, and Blackstone are planning to either open offices or rumored to be considering leasing space in South Florida. Insider's Daniel Geiger reports that the South Florida market has seen new interest from more than 1 million square feet worth of tenants in recent months, as companies relocate headquarters and set up satellite spaces.
Subway has struggled in recent years, with concerns linked to outdated branding and the number of locations outpacing demand. The company laid off roughly 500 people from its Connecticut headquarters in 2020.
Restaurant Business reported in January that an estimated 2,200 to 2,400 Subway locations closed in 2020. Subway told Restaurant Business that the actual number of permanent closures was lower than this figure, which would represent up to 10% of its total US locations.
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