Oracle appoints new CFO with $950,000 pay package less than a week after laying off 30,000 employees

Merely less than a since week after Oracle announced thousands of offices from offices worldwide, the US IT tech giant has named Hilary Maxson as its new chief financial officer. The 48-year-old Hilary Maxson has assumed the role immediately with an annual base salary of $950,000 and eligibility for a performance-based bonus targeting $2.5 million, regulatory filing shows, reports New York Post. Maxson will report to Chief Executive Officer (CEO) Clay Magouyrk and lead the company’s global finance organization, effective April 6, 2026, the company said in a statement.

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Oracle hires new CFO Hilary Maxson

Oracle's new CFO, Hilary Maxson is 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. “Oracle has built extraordinary momentum at the intersection of cloud, AI, and industry applications. I’m excited to join at this pivotal moment, and I look forward to partnering with Clay, Mike, and the broader leadership team to continue to invest with discipline and to translate this momentum into durable, long‑term value for customers and shareholders,” said Hilary Maxson.


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Prior to joining Oracle, Maxson served as Executive Vice President and Group Chief Financial Officer at Schneider Electric. Earlier in her career, Maxson spent 12 years at the AES Corporation, where she held senior leadership roles across finance, strategy, and M&A, supporting complex, capital-intensive infrastructure investments across global markets.

The appointment of Hilary Maxson comes as Oracle faces widespread criticism for mass job cuts. The report says that Oracle has tapped an executive "with experience in infrastructure and energy to steer its efforts to meet surging demand for artificial intelligence and cloud services."

Layoffs at Oracle

Last month, a March report by Bloomberg flagged the possibility of large-scale layoffs at Oracle. According to the report, the company is planning to cut thousands of jobs as part of efforts to manage financial pressure stemming from its massive AI data centre expansion.

“The job reductions will affect divisions across the company and may be implemented as soon as this month,” the report said, citing people familiar with the matter who requested anonymity due to the private nature of the plans. It added that some roles are expected to be eliminated as AI reduces the need for certain job categories.

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

In the email, Oracle instructed its employees to provide a personal email address to receive further updates. “To receive important follow-up information, including FAQs and separation documents to help you through this transition, you must provide a personal email address,” the message stated. Employees were asked to submit the details through a provided link. In case of a submission error, it directed the staff to re-submit a new form. Oracle clarified that the personal email address will only be used for “correspondence regarding separation-related information and severance agreements".