Becton Dickinson to Lay Off 1,000 Workers

Becton Dickinson (BDX Quote) a medical supply maker, said Tuesday it would lay off 1,000 employees as part of a restructuring that would include special charges and reduce its sales and profit.

The company, which is based in Franklin Lakes, N.J., said it would eliminate certain incentive programs with distributors, a move that is expected to cut its fourth-quarter revenue by $50 million and its profit in the period by 6 cents a share, Becton Dickinson said.

The company, which makes medical supplies used by health care professionals and consumers, currently employs 24,000. In its most recent fiscal year, which ended Sept. 30, 1999, the company had sales of $3.4 billion.

The company said it would take an unspecified charge in the current period, which ends Saturday and is the fourth quarter of its fiscal year, and that, excluding those and other one-time charges, it expects to post a profit of 39 cents a share for the quarter. Analysts surveyed by the First Call/Thomson Financial had expected Becton Dickinson to earn 46 cents a share.

The company announced the measures after the close of regular stock market trading. Its shares closed at $22.32 a share, down $2.63.