drugstore.com Cutting 10% of Work Force; Sees Meeting 3Q Estimate - TheStreet

drugstore.com

(DSCM)

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.