Hallmark Offers Employees Buyouts to Down Size Workforce
KANSAS CITY, Mo. — Hallmark plans to down size its workforce with a voluntary buyout. Employees were informed about the program on Tuesday. People who are eligible will receive a severance payment to assist them in transitioning out of the company. The company hopes to get as many as 300 to 400 applications.
Hallmark says 2011 was a difficult year despite some signs of an improving economy.
More than 1,500 employees qualify to apply and take advantage of a financial incentive. Those who are accepted will transition out of the company by the end of July.
There are approximately 7,500 full-time employees in Hallmark’s U.S. personal expression business, excluding subsidiaries. About 3,700 employees work at the company’s Kansas City headquarters.