You can either remove the cookie dough around the letters, or remove the cookie dough from inside the letters. I couldn't find another way to make the logo so it might give mixed results. It all depends on how you want the gingerbread/cookies to look.
It's a tradition in most Nordic countries to make gingerbread cookies before christmas.
Let me know if there's room for improvements.
The author marked this model as their own original creation.