KANSAS CITY, Mo. (AP) -- Hallmark Cards Inc. will cut about 400 jobs worldwide, including 325 at its headquarters of Kansas City, Missouri, the company said Monday.
Hallmark will offer buyouts before turning to layoffs. The company said affected workers will receive severance pay and assistance as they seek new jobs.
CEO Mike Perry said the "rapidly evolving retail and consumer environments" requires the company to transform the way it does business.
"The way people shop and the competitive dynamics in the marketplace are changing at a pace and at a degree that is having a significant impact on our businesses," Perry said in a statement.
Hallmark employs about 3,400 people in Kansas City and 30,000 people worldwide. In addition to greeting cards, it owns the Hallmark Channel on cable TV, Hallmark Gold Crown stores, the Crayola brand of art supplies, and a real estate development company that oversees Kansas City's Crown Center complex, where the headquarters is located.
The privately operated company said in a news release that it "saw positive performance across the enterprise in 2019."