Submitted 9 months ago by L4s@lemmy.world [bot] to technology@lemmy.world
https://www.sfgate.com/tech/article/okta-layoff-mckinnon-identity-software-18642662.php
Unprofitable SF tech giant Okta lays off 400 workers, dozens in California::Okta, the San Francisco-based maker of identity and access tech, is laying off 400 workers, including 83 in California. CEO Todd McKinnon announced the news.
CEO shouldn’t have a job anymore. How is a company like this not profitable.
Oh thank god we just moved our auth to them. Such good news. Feck
Same!
Okay is a tech giant now?!
Pretty big in their space, not eure for how much longer though.
darkevilmac@lemmy.zip 9 months ago
I kind of wonder how a company with such an iron grip on SSO can’t manage to be profitable. That and I literally saw a job listing from Okta last weekend, so they’re probably just trying to replace their tenured high cost employees with cheaper workers.
Darorad@lemmy.world 9 months ago
It could also have been a ghost listing, but yeah, I’m baffled they aren’t profitable
Badeendje@lemmy.world 9 months ago
Probably because for the development stage they racked up such a massive debt they are collapsing under that weight.