someone high'ish up in management here: Your right, there wasn't much thought put into the cuts. No managers were even included in the decision making process. a very small group of execs made the cut decisions and let the managers in on it a day before.
There's a pretty clear reason why none of this makes sense if your looking at it from a "run a company" perspective: Execs are not interested in running a company, they are 100% focused on selling the company. Cuts were done based mostly on salary/overall cost of an associate.
If you keep thinking these decisions must make some good business sense your going to have a bad time... it's just not how this, or any of the most recent decisions are being made.