Kansas City, Mo.-based Hallmark is taking steps to reduce its workforce, possibly including lower employment totals at its Lawrence manufacturing plant.

Hallmark on Tuesday initiated a voluntary program to buyout longtime employees of the greeting card manufacturer. About 1,500 employees are eligible for the program, which involves providing employees with a severance package to voluntarily leave the company.

Hallmark spokeswoman Julie O’Dell said she anticipates 300 to 400 employees will apply to receive the buyouts.

Hallmark operates a greeting card manufacturing facility at 101 McDonald Drive in Lawrence. O’Dell said 486 people are employed at the Lawrence plant. She estimated about 5 percent of the plant’s workforce would be eligible to apply for the buyout program.

O’Dell said the company decided to reduce its workforce as consumers remain cautious in their spending on greeting cards and related items. The privately-held company posted revenues of $4.1 billion in 2011, which were flat compared to 2010. O’Dell said the company expected 2012 to be another difficult year, and decided to take steps now to reduce its costs and improve competitiveness.

Hallmark — which has bout 7,500 employees total and 3,700 at its Kansas City headquarters — expects employees who take the buyout offer to leave the company by the end of July.

— City reporter Chad Lawhorn can be reached at 832-6362. Follow him at Twitter.com/clawhorn_ljw