Oracle CFO says “doing more with less” isn’t the answer amid new layoffs

Oracle's new finance chief used her first companywide meeting to deliver a message to employees: Oracle doesn't want them "doing more with less." Chief Financial Officer Hilary Maxson told employees on Tuesday they should be proud of the company's financial results and protect that success as the company grows, according to a recording reviewed by Business Insider. The remarks came a day after Oracle began a new round of layoffs, following cuts earlier this year. The company's workforce declined by 21,000, or 13%, in the 2026 fiscal year that ended May 31, according to a recent filing. "This means being thoughtful about where we spend our time and money," Maxson 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." Maxson's remarks highlight one of the central challenges facing Oracle and its peers: investing aggressively in AI while maintaining financial discipline. Oracle has racked up tens of billions of dollars in debt as it expands its data centers and AI infrastructure. The latest workforce cuts are intended to reduce payroll to offset those costs, according to a person familiar with the strategy. Oracle reported $28.5 billion in first-quarter capital expenditures, up from $8.5 billion a year earlier, and maintained its fiscal 2027 capital expenditure forecast at $90 billion to $95 billion. Neither Maxson nor other executives addressed the layoffs directly during the roughly hourlong town hall. Instead, they repeatedly emphasized growth, customer demand, and the opportunities created by artificial intelligence. "I'd ask you to keep asking a very simple question: How does the work that I'm doing help deliver a better outcome for a customer?" Co-CEO Mike Sicilia said, suggesting a mantra as Oracle starts its 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." Have a tip? Contact this reporter via email at astewart@businessinsider.com or Signal at +1-425-344-8242. Use a personal email address and a nonwork device; here's our guide to sharing information securely.