Hallmark Cards, Inc. announced Monday that it will cut 400 jobs.
Hallmark Cards said that it saw "positive performance" in 2019, but that cutting 400 of its 30,000 global employees would help with future changes.
"These changes, while not easy, will enable us to invest in new growth strategies that will ultimately help us realize our future vision," said Mike Perry, president and chief executive officer of Hallmark Cards, Inc.
Affected employees will be notified in the coming days and will be offered severance, the release said, and they will be encouraged to apply for other jobs.
Hallmark says it is worth about $4 billion and distributes its cards in more than 30 languages to more than 100 countries.
In addition, the company owns the craft and art supply company Crayola and is well known for its television channels: Hallmark Channel, Hallmark Movies & Mysteries and Hallmark Drama.
