Following layoffs, Oracle hires new CFO at $950K salary

Software giant Oracle has named Hilary Maxson as its new chief financial officer amid thousands of layoffs that sent shockwaves through the company.

Maxson, 48, formerly of Schneider Electric, assumes the role effective immediately with an annual base salary of $950,000 and eligibility for a performance-based bonus targeting $2.5 million, according to a regulatory filing.

The technology company made the appointment amid rising debt from its extensive AI infrastructure investments, CNBC reported.

A Cornell graduate with an MBA, Maxson has a decorated career in financial services, 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 regions received early morning emails last Tuesday informing them their roles were being eliminated as part of a “broader organizational change.” Those affected were told they could receive severance after signing termination paperwork.

The layoffs coincided with revelations that Oracle has been actively filing petitions to hire foreign workers 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 year alone.

The news sparked outrage on social media and anonymous employee forums, where workers decried the move as a “slap in the face” to US citizens laid off after years of service.

Oracle, chaired by billionaire Larry Ellison, has declined to comment on the number of jobs cut.

The company employed approximately 162,000 full-time workers as of May 2025, according to SEC filings. Analysts say the layoffs and new hires highlight Oracle’s drive to fund its “rapidly growing” cloud infrastructure business and expand AI capabilities, even as tech employment nationwide experiences its worst start to the year since 2023.

Industry experts warn that while H-1B visas help fill specialized roles, the timing of foreign hiring alongside brutal layoffs has fueled anger among US workers.

“From a financial perspective, it seems inefficient,” one anonymous employee wrote online. “Significant severance packages while hiring new employees—this is cold.”

Maxson’s appointment signals Oracle’s focus on navigating financial strategy amid internal upheaval, as the company balances global expansion with domestic workforce backlash.

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