Okta Layoffs: 180 Employees Affected - One Year After Previous Cuts

Okta Announces Further Workforce Reduction

Okta, a leading provider of access and identity management solutions in the U.S., has recently implemented a reduction in its workforce. The company confirmed to TechCrunch that 180 employees were laid off on Tuesday.

This latest action follows a previous workforce reduction that occurred in February 2023, impacting 300 employees.

Workforce Numbers and Impact

While the precise current employee count remains undisclosed, calculations suggest Okta employed approximately 5,300 individuals as of early 2024. The recent cuts represent roughly 3% of the company’s total workforce, as detailed in a Securities and Exchange Commission (SEC) filing.

A company representative stated that the role eliminations are intended to facilitate the reallocation of resources toward emerging areas of growth.

Company Statement and Financial Performance

“Today, Okta employees were informed of the elimination of approximately 180 positions,” the spokesperson explained. “We express our gratitude to those departing for their contributions and are dedicated to offering support during this period of transition.”

In December, Okta reported its fiscal third-quarter revenue reached $665 million. This figure represents a 14% increase when compared to the revenue generated during the same quarter of the previous fiscal year.

The company is prioritizing investment in new growth opportunities through this restructuring.