Oracle CFO Hilary Maxson Addresses Layoffs in First Company Meeting
At her first companywide meeting since joining Oracle as Chief Financial Officer, Hilary Maxson addressed recent layoffs and clarified that the cuts are not about doing more with less. Instead, she emphasized simplifying processes to better serve customers and allocate resources effectively. The remarks came a day after another round of job reductions at Oracle. Oracle has laid off approximately 21,000 employees—about 13% of its workforce—in the past fiscal year ending May 31, 2026. Maxson did not mention layoffs during her town hall speech but instead focused on growth and AI initiatives. Co-CEO Mike Sicilia encouraged employees to prioritize customer outcomes in their work. Oracle has expanded its restructuring plan by $700 million, bringing the total estimated cost to around $2.8 billion. The company spent $28.5 billion on capital expenditures for data center buildout in the latest quarter and expects spending of $90–$95 billion in fiscal 2027.
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