TECH - What's Going On With Okta Stock Thursday? | Benzinga
Okta, Inc (NASDAQ:OKTA) stock is trading higher Thursday as it disclosed a restructuring plan to improve operating efficiencies. The plan involves a reduction of Okta’s workforce by approximately 400 full-time employees, or 7%.
In connection with the plan, Okta looks to recognize approximately $24 million of restructuring charges in the fourth quarter of fiscal 2024.
Okta also reaffirmed its financial guidance for the fourth quarter and fiscal year ending January 31, 2024.
Okta joins a series of tech companies reducing their workforce early in 2024, with almost 24,000 tech workers laid off in January despite rising stock prices ...