Okta layoff 7% today
That’s about 400 people
Just seen, poor management = poor performance
I know a lot of customers weren’t happy after last security incident
Look on the bright side, 93% kept their jobs
glass is 93% full
Indeed, indeed
Didn't you have big layoffs last year as well ?
Last year around the same time 2nd feb. it was around 300 people
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3 major breaches in 2 years with the service that holds the keys to the kingdom .. unfortunately this one was expected. Okta has some very smart people, management should be held accountable first.
If I told you the amount of misogynistic racist behaviour on their sale team you could find it pretty easy to fire a bunch of them lol
Can you give some examples? How do you know given u are at Jpm?
Which teams are affected?
Demand gen /field marketing has had some
Field teams and others, R&D teams not impacted
Did they hired like Meta or Amazon during free money run?
They hired a lot but their pay is not comparable to FAANG and they have an inflated title problem like Saleforce
Companies have tasted the blood. They know they can do layoffs every year with no repercussions.
Why not run your company more efficiently if you can
Laziness
And Okta’s stock still has not recovered.
New normal