secwatch.observer — SEC 8-K summary
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Issuer:     Okta, Inc. (OKTA)
CIK:        0001660134
Form:       8-K
Filed at:   2024-02-01T23:59:59+00:00
Accession:  0001660134-24-000005
Event type: other_material
Sentiment:  neutral
Materiality: 0.70
Item codes: 2.02, 8.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1660134/000166013424000005/0001660134-24-000005-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1660134/000166013424000005/okta-20240201.htm
  HTML page:      https://secwatch.observer/filing/0001660134-24-000005

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer