Okta (OKTA) said Tuesday it is cutting about 3% of its workforce, or about 180 full-time employees.
The company expects to recognize restructuring charges of about $11 million in fiscal Q4 for future cash employee severance and benefits costs that will be paid mainly in fiscal Q1, according to a regulatory filing.
Okta said it also expects to record an "insignificant" adjustment to its stock-based compensation expense in fiscal Q1, related to equity compensation for terminated staff.
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