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Okta to Reduce Workforce by About 3%

Feb 4, 2025 10:35 AM

01:22 PM EST, 02/04/2025 (MT Newswires) -- Okta ( OKTA ) said Tuesday it is cutting about 3% of its workforce, or about 180 full-time employees.

The company expects to recognize restructuring charges of about $11 million in fiscal Q4 for future cash employee severance and benefits costs that will be paid mainly in fiscal Q1, according to a regulatory filing.

Okta ( OKTA ) said it also expects to record an "insignificant" adjustment to its stock-based compensation expense in fiscal Q1, related to equity compensation for terminated staff.

Price: 93.40, Change: +0.16, Percent Change: +0.17

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