Subway Could Shrink to Smallest Size in Years Amid California's $20 Minimum Wage

By Mike Fishmore | May 3, 2024

Shut down

The Subway franchise is experiencing a reduction in size, a trend that may continue as California's elevated minimum wage for fast-food employees comes into play.
 

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In 2023, Subway shut down 733 stores across the United States, as reported by the New York Post. Despite opening 396 new stores and acquiring some existing ones, the overall store count for the chain decreased by 443.
 

Net loss

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At the beginning of 2024, Subway had 20,133 stores in the U.S., down from 20,576 stores at the start of 2023. CEO John Chidsey anticipated a net loss of approximately 100 stores in November.