Castlight Health initiating restructuring program to reduce expenses 10%-15%

The company is announcing a restructuring program to align its operations with its evolving business needs. This is also due, in part, to the recent unexpected churn of a large customer. Under this program, the company intends to reduce operating expenses by 10%-15%. The actions associated with this program are expected to be largely completed by September 30. The company expects to take a restructuring charge in Q3, which will be excluded from its FY18 non-GAAP operating loss and non-GAAP net loss per share.

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