Actually, a reduction of 300 will generate an annual savings of over $15,000,000. That is a substantial amount at BD. As to the sense of it, they have never been a senior oriented company. Look at the "Down sizing" of '95. They very carfully targeted senior people. They tend to want a younger staff, and prefer yes men, who will tow the company line. People who do not agree with the management have never been popular at BD. The experience and knowledge have never rated high on thier scale. They value youth and directable enthusiasm. But, it has worked well for them. They have experienced occasional setbacks with this direction, but as a whole, the stock does well. It's making me comfortable.
Things are not as simple as you think. Options traders can smell a good quarter coming. They are getting in early and will cash out as soon as the price goes up. BD will not receive any takeover offers unless the stock drops to 30 and stays there for awhile. What is the chance of that if the quarter is going to be a good one? Everyone is saying the quarter is going to be good. Look for some bullish news on sales. That is where the focus is. The smart money knows it. Good luck with National Poetry Month.