Okta, Zoom cut hundreds of jobs
Zoom's headquarters in San Jose.
More tech companies in the Bay Area are laying off workers.
Okta, which has its headquarters in San Francisco, was cutting 400 employees. That's 7% of the workforce for the company, which specializes in identity management.
The layoffs were necessary, according to an email to employees from CEO Todd McKinnon, that said "the reality is that costs are still too high."
A year ago, Okta got rid of 300 employees.
Zoom, which is based in San Jose, planned to eliminate approximately 150 jobs, Bloomberg reported.. That is less than 2% of the workforce for the company known for its video conferencing app.
Job cuts in the tech industry have been recently common. Google reduced headcount last month. Twitch, the San Francisco-based platform to stream video games, laid off hundreds of workers in January too.