Oracle CFO says 'doing more with less' isn't the answer in all-hands after layoffs
The remarks came a day after Oracle began a new round of layoffs, following cuts earlier this year.
Oracle CFO Hilary Maxson emphasized during an all-hands meeting on Tuesday that the company does not want employees to simply "do more with less." This sentiment came a day after Oracle initiated a new round of layoffs aimed at reducing payroll and tackling the company's mounting debt from infrastructure investments. In her first companywide meeting, Maxson encouraged employees to be proud of Oracle's financial results and stressed the importance of protecting that success as the company grows.
She clarified that "doing more with less" is not the answer, but rather simplifying processes that do not enhance customer value and making strategic decisions about resource allocation. The layoffs, resulting in a 13% reduction in workforce, were part of Oracle's strategy to address its debt load and maintain financial discipline while investing heavily in AI infrastructure.
Oracle reported $28.5 billion in capital expenditures for the first quarter, up from $8.5 billion a year earlier, with a forecast of $90 billion to $95 billion for fiscal 2027. Company executives, including Co-CEO Mike Sicilia, focused on growth, customer demand, and the opportunities presented by artificial intelligence during the town hall, encouraging employees to ask how their work contributes to better customer outcomes.
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