Following layoffs, Oracle hires new CFO at $950K salary | Latest Tech News
Software giant Oracle has named Hilary Maxson as its new chief financial officer amid hundreds of layoffs that despatched shockwaves through the company.
Maxson, 48, previously of Schneider Electric, assumes the function efficient immediately with an annual base salary of $950,000 and eligibility for a performance-based bonus concentrating on $2.5 million, according to a regulatory submitting.
The technology company made the appointment amid rising debt from its in depth 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, including stints at The AES Corporation, Citibank and Bank of America.
The appointment comes as Oracle faces widespread criticism for mass job cuts.
Employees across the US, India, Canada and other areas obtained early morning emails last Tuesday informing them their roles have been being eradicated as half of a “broader organizational change.” Those affected have been told 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 staff under the H-1B visa program. US Citizenship and Immigration Services data show the company filed roughly 3,126 petitions in fiscal years 2025 and 2026, including 436 this 12 months alone.
The news sparked outrage on social media and nameless worker boards, where staff decried the transfer as a “slap in the face” to US residents laid off after years of service.
Oracle, chaired by billionaire Larry Ellison, has declined to remark on the quantity of jobs cut. Getty Images
Oracle, chaired by billionaire Larry Ellison, has declined to remark on the quantity of jobs cut.
The company employed roughly 162,000 full-time staff as of May 2025, according to SEC filings. Analysts say the layoffs and new hires spotlight Oracle’s drive to fund its “rapidly growing” cloud infrastructure business and increase AI capabilities, even as tech employment nationwide experiences its worst start to the 12 months since 2023.
Industry consultants warn that while H-1B visas help fill specialised roles, the timing of overseas hiring alongside brutal layoffs has fueled anger among US staff.
“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 focus on navigating financial strategy amid inside upheaval, as the company balances global growth with home workforce backlash.
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