Zoom, Okta announce layoffs, according to reports
(KRON) — Two more Bay Area tech companies have announced job cuts this week, according to reports. The companies are the latest in what has been a rolling wave of layoffs across the tech sector that’s seen industry giants like Google, Meta Inc. and Salesforce cut jobs over the past year.
Zoom layoffs
Zoom, the San Jose-based video conferencing software platform, cut about 150 jobs this week, according to a report in Bloomberg. The staff reduction amounts for less than 2% of Zoom’s total workforce, according to a source cited by Bloomberg.
Police warn of Trader Joe’s crime trend in East Bay
The job cuts are not company-wide, according to the report. The company, which saw significant growth during the height of the COVID-19 pandemic, will still be hiring in 2024, focusing on areas like artificial intelligence, sales, and engineering, according to Bloomberg’s source, who asked not to be identified.
Okta layoffs
Bloomberg also reported Thursday that Okta Inc. would be eliminating 7% of its staff in order to reduce costs. A separate report from CNBC cited a letter to employees from Okta CEO Todd McKinnon that said the layoffs will impact 400 employees.
In the letter, McKinnon went on to call the layoffs “a proactive measure to help set the company up for long-term success.”
Okta is an identity management company based in San Francisco. Despite the layoffs, a notice on its website says the company is hiring.
For the latest news, weather, sports, and streaming video, head to KRON4.
