Oracle appoints new CFO With $29.7 million package after 30,000 layoffs

Oracle has appointed Hilary Maxson as its new Chief Financial Officer (CFO), just days after laying off around 30,000 employees globally. Reports say that nearly 12,000 of these job cuts happened in India as part of a cost-cutting move linked to increasing use of AI.

Hilary Maxson’s salary package has caught attention due to its size. She will reportedly receive a base salary of $9,50,000 (around ₹8.8 crore) along with a performance-based bonus of up to $2.5 million (₹23.2 crore). In addition to this, she has reportedly been given an equity grant worth $26 million (₹241.7 crore). This includes both time-based and performance-based rewards. Oracle will also provide her with a relocation allowance of $250,000, making her total package close to $29.7 million.

Before joining Oracle, Maxson worked as Vice President and CFO at Schneider Electric. She also spent over a decade at AES Corporation, handling important roles in finance and strategy.

Meanwhile, the layoffs have raised concerns among employees and industry experts. Many workers were informed through an early morning email stating that their roles were being removed due to organisational changes. The cuts affected multiple departments, including cloud, sales, and customer support.

The timing of this appointment is also important as Oracle is facing financial pressure. The company  recently reported a $394 million cash flow deficit for 2025, and there are concerns about rising debt due to heavy investments in AI.

​