50 more axed in Subway’s cold cuts

Subway Restaurants on Tuesday laid off about 50 people in its business-development and leasing units, or more than 5 percent of its corporate staff, The Post has learned.

The layoffs, which mark the struggling chain’s third round of cuts this year, hit the two sections at Subway’s Milford, Conn., headquarters, a company insider said.

In February, before the pandemic hit, Subway laid off 300 staffers in Milford, or about one-quarter of its corporate workforce, in a “streamlining” process spearheaded by CEO John Chidsey, who took over last year.

Chidsey slashed another 150 jobs in May after the pandemic forced officials to close indoor dining around the country. There have been a smattering of other job cuts at the Milford campus in recent weeks, the insider said.

Subway, which didn’t return a request for comment, started the year with about 1,200 employees, a number that appears to have shrunk by more than 40 percent, to roughly 700 people.

Chidsey, the former CEO of Burger King, was brought on to help reverse

Subway’s declining sales, a trend that kicked off in 2015 after longtime spokesman Jared Fogle pleaded guilty to child-pornography charges.

Chidsey in September began requiring franchisees, many of whom are still generating lower sales than a year ago, to resume pre-COVID operating schedules of roughly 84 hours a week. Subway owns none of its roughly 23,000 US restaurants and takes in 8 percent of gross royalties.