Oracle CFO Hilary Maxson Addresses Layoffs at First Companywide Meeting

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โดย Business Insider·US·Read original
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Oracle Chief Financial Officer Hilary Maxson told employees at her first companywide meeting that the company's latest round of layoffs should not be understood as a directive to do more with fewer resources, according to Business Insider, which reviewed a recording of the remarks. "I don't mean doing more with less, which is a phrase that I really, really don't like," Maxson said, adding that the cuts mean simplifying processes that don't help customers and making clear choices on where to use resources for the greatest impact. The comments came one day after Oracle began a new round of job cuts, though the layoffs went unmentioned by Maxson and other executives during the roughly hour-long town hall, which instead focused on growth, customer demand, and artificial intelligence. Co-CEO Mike Sicilia asked employees to keep asking how their work helps deliver a better outcome for a customer. The latest cuts follow a significant reduction in Oracle's workforce over the past year; according to a regulatory filing, Oracle shed approximately 21,000 positions, representing about 13% of its workforce, across the fiscal year that closed on May 31, 2026. Oracle expanded its 2026 Restructuring Plan by approximately $700 million, bringing the total estimated cost to roughly $2.8 billion, and recorded roughly $2.1 billion in charges against the plan through August 31. Cash used for capital expenditures reached $28.5 billion in the quarter ended August 31, up from $8.5 billion a year earlier, while Oracle kept its capital expenditure outlook for fiscal 2027 unchanged at $90 billion to $95 billion. A person familiar with the matter told Business Insider that trimming headcount is part of how Oracle plans to manage the financial pressure created by its infrastructure spending. Maxson, who previously served as executive vice president and group chief financial officer at Schneider Electric, joined Oracle earlier this year.

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Cloud & Digital Infrastructure▼ · 1 stocks
Oracle Corporation
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Oracle expanded its restructuring plan by ~$700M (total ~$2.8B) and cut ~21,000 jobs to manage financial pressure from heavy infrastructure capex.

Artificial Intelligence▲ · 1 stocks

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