SecurityUS

Okta Layoffs

February 2024

Okta announced a layoff affecting 400 employees (7% of its workforce) in February 2024. The company operates in the Security sector.

People Affected

400

Percentage

Announced Date

Feb 1, 2024

About

Identity management company Okta announced on Thursday that it is laying off 400 employees, representing approximately 7% of its workforce. CEO Todd McKinnon stated the decision was a difficult but necessary proactive measure to address high costs and achieve long-term profitable growth, emphasizing the need to run the business with greater efficiency and invest more thoughtfully. This marks the second round of layoffs in roughly a year for the tech firm, following a smaller reduction in February 2023. The announcement comes amid a wave of job cuts in the technology industry in early 2024.