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flag Okta, a San Francisco tech company, announces a 7% workforce reduction, cutting 400 jobs to manage spending and focus investment.

flag Okta, a San Francisco-based software company specializing in identity and access management, has announced plans to reduce its workforce by 7%, which is about 400 jobs. flag The move follows similar actions by other tech giants such as Amazon, Google, and Salesforce. flag The company cited the need to manage overall spending to continue investing in the most promising areas, products, and markets. flag This will result in around $24 million in severance and benefit costs during the fourth quarter of fiscal 2024. flag Despite the layoffs, Okta reaffirmed its quarterly guidance and will announce its financial results on February 28th.

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