Following layoffs, Oracle hires new CFO at $950K – Business News
Software giant Oracle has named Hilary Maxson as its new chief financial officer amid hundreds of layoffs that despatched shockwaves via the company.
Maxson, 48, previously of Schneider Electric, assumes the position efficient instantly with an annual base wage of $950,000 and eligibility for a performance-based bonus focusing on $2.5 million, in response to a regulatory submitting.
The technology company made the appointment amid rising debt from its intensive AI infrastructure investments, CNBC reported.
Hilary Maxson is the new chief financial officer at Oracle amid hundreds of employee layoffs at the software program company. Youtube/Schneider Electric
A Cornell graduate with an MBA, Maxson has a embellished profession in financial companies, together with stints at The AES Corporation, Citibank and Bank of America.
The appointment comes as Oracle faces widespread criticism for mass job cuts.
Employees throughout the US, India, Canada and different areas acquired early morning emails final Tuesday informing them their roles have been being eradicated as half of a “broader organizational change.” Those affected have been instructed they may obtain severance after signing termination paperwork.
The appointment comes as Oracle faces widespread criticism for mass job cuts. Getty Images
The layoffs coincided with revelations that Oracle has been actively submitting petitions to rent overseas employees beneath the H-1B visa program. US Citizenship and Immigration Services information show the company filed roughly 3,126 petitions in fiscal years 2025 and 2026, together with 436 this yr alone.
The information sparked outrage on social media and nameless worker boards, the place employees decried the transfer as a “slap in the face” to US residents laid off after years of service.
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Oracle, chaired by billionaire Larry Ellison, has declined to touch upon the quantity of jobs cut. Getty Images
Oracle, chaired by billionaire Larry Ellison, has declined to touch upon the quantity of jobs cut.
The company employed roughly 162,000 full-time employees as of May 2025, in response to SEC filings. Analysts say the layoffs and new hires spotlight Oracle’s drive to fund its “rapidly growing” cloud infrastructure business and develop AI capabilities, whilst tech employment nationwide experiences its worst begin to the yr since 2023.
Industry specialists warn that whereas H-1B visas help fill specialised roles, the timing of overseas hiring alongside brutal layoffs has fueled anger amongst US employees.
“From a financial perspective, it seems inefficient,” one nameless worker wrote online. “Significant severance packages while hiring new employees—this is cold.”
Maxson’s appointment indicators Oracle’s deal with navigating financial strategy amid inner upheaval, because the company balances international growth with home workforce backlash.
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