UPDATE, 11:55 p.m.: The freeway will be reopened in both directions by tomorrow morning, according to Caltrans:

Currently, Route 101 [at the slide location] approximately 60 miles south of Eureka is open to one-way controlled traffic and motorists should expect 30-minute delays. Caltrans is pleased to announce that by Tuesday morning, April 5, the highway will open to one lane in each direction, 24 hours a day. Motorists should anticipate minor traffic slowdowns.   

No further closures will occur unless significant slide activity resumes.   
Currently, crews are performing drainage work, roadway repairs, and monitoring the slide.  Geotechnical investigations are being conducted over the next two weeks to determine how best to stabilize the slide so that the highway may be reconstructed to four lanes.

ORIGINAL POST: Back in business:

Caltrans is pleased to announce that Route 101 in Southern Humboldt County will reopen to one-way controlled traffic at 2 a.m. on Monday, April 4. Motorists should expect 30-minute delays. No further closures will occur unless significant slide activity resumes. Crews continue to work 24 hours a day to complete slide removal, repair the roadway, and monitor the slide.