Layoffs, attrition planned to help strengthen Hallmark name
Crown Media Holdings, whose media businesses include worldwide operations of the Hallmark Channel, Thursday announced a corporate restructuring and a 15% reduction in its global work force.
“The revised structure will … allow Crown Media Holdings to execute a regionalized marketing structure worldwide while consolidating its staff,” the New York-based company said.
The restructuring is aimed in part at strengthening the Hallmark Channel brand worldwide, officials said. The pay TV channel operates in the U.S. and 100 foreign markets, and those combined operations have more than 80 million subscribers.
“At the same time, particularly in today’s economic environment, it is prudent for us to capitalize on the economies of scale available in a global brand,” Crown CEO David Evans said. “Some staff reductions will result, which is always difficult.”
Job cuts will be made through attrition and an unspecified number of layoffs, the company said.
Hallmark Entertainment is among investors in Crown Media.