After layoffs, Oracle is hiring a new CFO at a salary of $950,000

Software giant Oracle has appointed Hilary Maxson as its new Chief Financial Officer, amid thousands of layoffs that sent shockwaves through the company.

Maxson, 48, formerly of Schneider Electric, takes on the role immediately with an annual base salary of $950,000 and the right to a performance-based bonus of $2.5 million, according to a regulatory filing.

The tech company made the appointment amid rising debt levels from its extensive investments in AI infrastructure, CNBC reported.

Maxson is a graduate of Cornell and has an MBA. He has had a distinguished career in financial services, including positions at The AES Corporation, Citibank and Bank of America.

The appointment comes as Oracle faces widespread criticism over massive job cuts.

Employees in the US, India, Canada and other regions received emails early Tuesday morning informing them that their role was being eliminated as part of a “broader organizational change.” Those affected were told they could receive severance pay after signing termination papers.

The layoffs coincided with revelations that Oracle has been actively petitioning to hire foreign workers under the H-1B visa program. U.S. Citizenship and Immigration Services data shows the company filed roughly 3,126 petitions in fiscal years 2025 and 2026, including 436 this year alone.

The news sparked outrage on social media and on anonymous employee forums, where employees labeled the measure a “slap in the face” for American citizens who had been fired after years of service.

Oracle, chaired by billionaire Larry Ellison, would not comment on the number of job cuts.

The company had approximately 162,000 full-time employees as of May 2025, according to SEC filings. Analysts say the layoffs and hires underscore Oracle’s push to fund its “high-growth” cloud infrastructure business and expand AI capabilities, even as tech sector employment across the country experiences its worst start to the year since 2023.

Industry experts warn that while H-1B visas help fill specialized positions, the timing of foreign hiring alongside brutal layoffs has fueled anger among American workers.

“From a financial perspective it seems inefficient,” an anonymous employee wrote online. “Significant severance pay when hiring new employees – this is cold.”

Maxson’s appointment signals Oracle’s focus on navigating its financial strategy amid internal turmoil as the company balances global expansion with domestic workforce adversity.

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