Massive Layoff at Quiznos

Posted Mon, 2009/02/23 - 21:27 by Oscar P Hoot

HEARD AT THE WATERING HOLE - Quiznos Corporation today has experienced a major layoff. It was announced that Dave Deno, who has been at the helm since only August of 2008, left today. Quiznos Corporation of late has seen a revolving door around its CEO position.

Rick Schaden returns today as chief executive.

A Quiznos Dream Team of professional officers assembled in late 2007 and 2008 was rumored to be helping get the firm ready for an IPO. That effort is now largely referred to in the past tense. Dave had more than 15 years of experience with Yum! Brands. Whisperings say that chief administrative officer Clyde Rucker, with years of experience at Burger King, Arby's and KFC, and Kevin Dereth are also gone as of today. Quiznos' 2007 chief marketing officer Steve Provost, who had some 18 years of brand building experience at Yum! Brands, left months ago.

While Greg Brenneman left the reins of CEO last year, he will continue to look for (return on investment?) opportunities as chairman of CCMP Capital Advisors and executive chairman of Quiznos.

Besides the clearing out of senior officers, this keen hearing hooter overheard that today's mass layoff was probably in the scope of a hundred, although that number sounds incredibly high, considering earlier layoffs. Today's pink slip recipients include many field business leaders (field operations managers).

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