Abby Yoder, US equity strategist at JPMorgan Private Bank, discusses stock market performance on The Claman Countdown.
Oracle announced Monday that it has hired a new chief financial officer, after the software giant stepped up its layoff process last week.
The company announced that Hillary Maxson will serve as the new CFO, joining Oracle from French industrial conglomerate Schneider Electric, where she served in the same role. Oracle said that as per the rules, his appointment will come into effect immediately.
Maxson, 48, will receive an annual base salary of $950,000 and will be eligible for a performance-based bonus with a target of $2.5 million, Oracle said in a regulatory filing.
The move comes after Oracle reportedly stepped up a round of layoffs last week cnbc reporting The layoffs will affect thousands of tech company employees, according to two people familiar with the matter.
Oracle is laying off thousands of employees to cut costs amid AI pressure: report
Oracle has appointed a new CFO as the company grapples with a costly AI buildout and restructures its workforce amid reported layoffs. (David Paul Morris/Bloomberg via Getty Images)
Oracle’s most recent 10-K filing reported that the company had approximately 162,000 full-time employees in May 2025.
The company said in a March filing that it expects to reduce overall costs associated with restructuring plan That would reach $2.1 billion in fiscal year 2026, with most of that going to employee severance and related expenses.
Oracle recently increased capital spending to build Artificial Intelligence (AI) Data centers, because the company wants to incorporate those devices into its business software services. The company has forecast capital spending of $50 billion for its fiscal year ending in May, more than double its spending in the previous fiscal year.
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| anchor | Security | Last | Change | Change % |
|---|---|---|---|---|
| orcl | Oracle Corp. | 145.54 | -0.84 |
-0.57% |
The cloud computing company said in February it planned to raise up to $50 billion this year through a combination of debt and equity sales.
The company’s stock has been volatile over the past year amid the AI ​​buildout, with shares rising about 14% in the past year despite falling 50% in the past six months and falling 25% so far this year amid concerns that AI poses a competitive threat to software providers.
Oracle expected to cut thousands of jobs as massive AI spending creates financial cash crunch
Oracle stock has been volatile amid the AI ​​buildout. (Getty Images)
Oracle’s move to appoint Maxson as CFO will reinstate the position that was eliminated in 2014 after Safra Catz became the company’s co-CEO and chief financial officer.
Maxson will report to Oracle co-CEO Clay Maguire in his new role and said in a press release announcing his appointment that he is “excited to join us at this important moment.”
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He said he looks forward to partnering with the company’s leaders “to continue investing with discipline and transforming this momentum into sustainable, long-term value for customers and shareholders.”
Reuters contributed to this report.
