The US sandwich chain Subway is to open up to 600 new stores in the UK and Ireland within the next two years, creating more than 7,000 jobs.
The US sandwich chain Subway is to open up to 600 new stores in the UK and the Irish Republic within the next two years, creating more than 7,000 jobs.
The chain, which has more than 1,400 outlets owned by 660 franchisees in the UK and Ireland, says the move would see it invest £60m in the new stores.
The Subway announcement came on a day when 1,400 jobs were cut across the UK.
It has grown rapidly from just 25 outlets in the UK and Ireland in 2000.
Among others, power company E.ON cut 450 jobs, retailer Zavvi cut 295 jobs, while engineering group Cookson confirmed it would cut nearly 180 jobs.
Subway says it now has more than 30,000 stores in more than 87 countries across the world.
While some firms are expanding, the downturn in the UK has prompted many others to tighten their belts.
Rapid expansion
Companies cutting back include:
The chain said it had opened 22 new outlets in the last two months alone, creating 264 jobs.
class="bulletList">
Power
firm E.ON is to cut 450 jobs, mainly in its retail division. It plans to introduce "leaner and more efficient processes" and said it would try to ensure most redundancies are voluntary
Music,
games and DVD retailer Zavvi is to close 15 stores immediately, leading to the loss of 295 jobs
Engineering
group Cookson will cut its global workforce by 7%. It is to shut its manufacturing plant in Ayrshire in the next 12 months, with the loss of 180 jobs
Nearly
130 jobs are to go at food company Serious Foods after it called in administrator Ernst & Young
Law
firm Linklaters is to start a 90-day consultation with staff, with up to 120 lawyers and 150 business staff expected to lose their jobs
The
London Underground is to cut 1,000 jobs, mostly in its administrative, finance and legal divisions
The
GMB union has said it fears 182 jobs may go at National Grid in Newcastle upon Tyne because the company plans to outsource work
Southern
Water staff have been told they will not receive a pay rise this year.
"We are delighted with the success we have achieved and that we are going to be able to provide a further 7,000 jobs," said Neil Black at Subway.
Subway boom
The chain currently employs around 16,000 people, he added.
But some chains continue to report growth.
Swedish fashion retailer H&M also announced on Tuesday that it would be creating between 6,000 and 7,000 worldwide this year.
Subway, which has more than 1,400 outlets owned by 660 franchisees in the UK and Irish Republic, says it will invest £60m in the new stores.
It also plans to open 225 new stores in the next financial year.
The chain said it had opened 22 new outlets in the last two months alone, creating 264 jobs. From just 25 outlets in 2000, it now has more than 30,000 stores in more than 87 countries across the world, employing about 16,000 people.
On Wednesday, supermarket chain Asda also announced that it would be creating 7,000 jobs and opening 14 new stores in 2009.
Also on Thursday, financial services company First Derivatives said it would create 110 new jobs in Newry, County Down, as part of an expansion package.
Swedish fashion retailer H&M also announced on Thursday that it would create between 6,000 and 7,000 new jobs around the world this year.
On Wednesday, supermarket chain Asda said that it was opening 14 new stores in 2009, creating 7,000 new positions.
