FEBRUARY 1, 2024 —
The company has announced the layoff of 7% of its workforce, approximately 400 employees.
CEO Todd McKinnon ,,,
Hi Everyone,
After a thoughtful FY25 business planning process, the leadership team and I have made the difficult decision to implement a workforce reduction impacting about 7% of our company, or approximately 400 people.
I know this is difficult news, and I’d like to provide some context on how we reached this decision.
In order to grow profitably, we need to run the business with greater efficiency. While we’ve taken steps in the right direction, the reality is that costs are still too high. We need to be mindful of our overall spend so we can continue to invest in the areas, products, and routes to market with the most opportunity. To capture our massive potential and build an iconic company, we must be thoughtful about where we place our bets. This action is a proactive measure to help set the company up for long-term success.
To the impacted employees, I am deeply sorry and we thank you for your many contributions. We are committed to supporting you during this transition and providing all possible resources to help you through this time.
Our priority today is managing this transition as respectfully as possible. As we navigate these changes, remember that Okta is critical infrastructure for 18,800 organizations around the world. We’re looking forward to the work ahead with Okta in the right position to extend our leadership position and execute our vision to free everyone to safely use any technology.
Todd
FEBRUARY 17, 2023 — Original post…
San Francisco, California-based Okta, an identity and access management company that provides secure user authentication to applications, has announced a cost-cutting initiative that targets 5% of the company's workforce.
The personnel adjustment will impact approximately 300 employees.
According to Chief Executive Todd McKinnon, "Okta made decisions last year that were based on demand trends experienced in 2021. This led us to overhire for the macroeconomic reality we’re in today. The company faced execution challenges in fiscal 2023, which began in February 2022. I wish I had responded sooner, but we’re doing the best we can today to adjust to this reality.”
“A workforce reduction like this is the last thing I wanted to do, and I am truly sorry.”
Change is coming. There will always be a tomorrow, no matter how much you may try to ignore it. There are no guarantees in life or promises for a bright future. We see good people being laid off through no fault of their own. Just because something bad hasn't happened yet, doesn't mean it won't. It can happen to anyone, anytime, anywhere. No one is guaranteed to wake up tomorrow and still have a job by evening. Are you now wondering, Am I Next?