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is eliminating about 60 positions, or 10% of its work force, as part of a plan to cut certain operating expenses and modify spending.

The online drugstore company said "we believe these cost-cutting steps are prudent and appropriate actions that are consistent with our stated strategy of achieving sustainable growth, while conserving cash on hand."

TheStreet Recommends also said it would announce third-quarter results Oct. 23 that are in line with expectations. Wall Street expects the company to lose 64 cents a share for the period, according to a

First Call/Thomson Financial

survey of 10 analysts. The company lost 72 cents a share in the year-ago period.