Oracle's new CFO addresses layoffs

Hilary Maxson told employees on Tuesday that recent job cuts should not be seen as doing more with less, but as simplifying processes and focusing resources where they have the greatest impact.

“I don't mean doing more with less, which is a phrase that I really, really don't like.”

Executives avoid mentioning cuts

During Maxson's first companywide meeting, executives focused on growth, customer demand, and artificial intelligence instead of addressing the layoffs that began the day before.

Co-CEO sets customer focus mantra

Mike Sicilia asked employees to keep asking how their work helps deliver better outcomes for customers, emphasizing collaboration during a period of significant change.

“How does the work that I'm doing help deliver a better outcome for a customer?”

Oracle cut 13% of workforce

The company shed approximately 21,000 positions across the fiscal year ending May 31, 2026, representing about 13% of its total workforce.

Restructuring plan expanded to 2.8 billion

Oracle expanded its 2026 Restructuring Plan by approximately 700 million dollars, bringing the total estimated cost to roughly 2.8 billion dollars, with 2.1 billion in charges recorded through August 31.

Capital spending surges for AI buildout

Oracle's capital expenditures jumped to 28.5 billion dollars in the quarter ended August 31, up from 8.5 billion a year earlier, with projections of 90 to 95 billion dollars for fiscal 2027.