Oracle’s newly appointed finance chief delivered an unexpected message during her first all-hands meeting: the company has no interest in squeezing more productivity from fewer workers.
CFO Hilary Maxson told staff on Tuesday that they should take pride in Oracle’s latest financial performance and guard that momentum as the business scales, per a recording obtained by Business Insider. Her comments arrived just one day after the tech giant initiated another round of job cuts, adding to reductions made earlier in the year.
The numbers paint a stark picture. Oracle’s headcount shrank by 21,000 employees, or 13%, during fiscal 2026, which concluded May 31, according to a recent regulatory filing. Those cuts align with a strategy to offset the enormous costs tied to Oracle’s aggressive AI and data center expansion, a person close to the planning said.
Maxson reframed the approach. “This means being careful about where we spend our time and money,” she said. “I don’t mean doing more with less, which is a phrase that I really, really don’t like. It means simplifying processes that don’t help customers and making clear choices on where we’re going to use our resources where they have the greatest impact.”
Oracle has accumulated tens of billions in debt as it pours capital into AI infrastructure. First-quarter capital expenditures hit $28.5 billion, a massive jump from $8.5 billion a year prior. Meanwhile, the company held its full-year capex guidance steady at $90 billion to $95 billion.
Neither Maxson nor other executives mentioned the layoffs directly during the hourlong town hall. Instead, they highlighted growth prospects, customer demand, and opportunities stemming from artificial intelligence.
Co-CEO Mike Sicilia urged employees to keep one question front and center. “How does the work that I’m doing help deliver a better outcome for a customer?” he asked, framing it as a guiding principle for Oracle’s second quarter. “There’s a lot of change around this, a lot going on in the world, and in moments like this, how we work together and how we show up for our customers and for each other matters most.”
As Oracle balances massive AI bets against workforce reductions, the coming quarters will test whether this reframing resonates with employees who remain.
