Okta announces workforce reduction of ~400 employees (7%) and $24M restructuring charge

Okta, Inc.

Reducing workforce by ~400 full-time employees, or ~7% of total.
Expects ~$24M restructuring charges in Q4 FY2024 for cash severance and benefits, mostly paid in Q1 FY2025.
Reaffirms Q4 and full-year FY2024 financial guidance previously issued on Nov 29, 2023.
Q4 FY2024 results to be reported after market close on February 28, 2024.

item 2.02 item 8.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Okta, Inc. updated its the fourth quarter and fiscal year ending January 31, 2024 guidance (reaffirmed).

Period: the fourth quarter and fiscal year ending January 31, 2024
Guidance: reaffirmed
Result: guidance update

Exact text from the filing

Okta, Inc. (the “Company”) reaffirms its financial guidance for the fourth quarter and fiscal year ending January 31, 2024, as provided in a press release issued November 29, 2023

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Okta, Inc. filing history →

Source: SEC EDGAR

accession 0001660134-24-000005

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