Okta Lays Off 180 Employees in Latest Restructuring Effort

Okta Lays Off 180 Employees in Latest Restructuring Effort

In a move signaling continued efforts to streamline operations and adapt to evolving market conditions, Okta, a prominent player in the identity and access management (IAM) space, has revealed plans to lay off 180 employees. This decision, confirmed by the company to TechCrunch, comes just over a year after its previous workforce reduction, raising questions about the company's growth trajectory and the broader economic climate within the tech sector. This latest restructuring underscores the challenges faced by many tech companies in balancing growth with profitability amidst increasing competition and economic uncertainty. A Pattern of Workforce Reductions: This is not the first time Okta has resorted to layoffs. The company implemented a significant workforce reduction in February 2023, impacting 300 employees. This was followed by another round of cuts later that year, affecting 400 workers. With the current reduction of 180 positions, Okta has significantly reduced its workf…