Oracle CFO Tells Staff to Be 'Thoughtful' With Spending Days After Company's Second Layoff Round
Oracle's Chief Financial Officer Hilary Maxson held an all-hands meeting with employees this week, urging them to be more careful with company resources, just days after Oracle began a fresh round of mass layoffs affecting potentially thousands of jobs worldwide. What Maxson told employees According to the Business Insider report, Maxson told staff that they needed to help sustain the company's…
Oracle CFO Hilary Maxson addressed her staff in an all-hands meeting, urging them to be more mindful with company resources following the company's second round of layoffs. Speaking at the meeting, Maxson emphasized the need to sustain financial growth, stating "This means being thoughtful about where we spend our time and money."
The comments came after Oracle reported a 121 percent growth in cloud infrastructure revenue. Maxson clarified that her message was not about reducing output from a smaller team, but rather simplifying processes that do not benefit customers and making strategic decisions on resource allocation. The second round of layoffs was announced on September 14, potentially impacting thousands of employees worldwide.
Maxson's first company-wide address since taking over as CFO in April, the meeting focused on growth, customer impact, and opportunities in artificial intelligence, while avoiding direct discussion of the layoffs. Oracle co-CEO Mike Sicilia also spoke, encouraging employees to evaluate their work based on customer impact. The meeting came amid a broader trend of tech companies reducing their workforce, including rivals such as Uber, Microsoft, Amazon, and PayPal.
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