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."
drugstore.com 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.