2 days ago

Oracle CFO Urges Spending Caution After Fresh Layoff Round

Oracle is a large technology company that is spending heavily on cloud computing and artificial intelligence.

Its finance chief, Hilary Maxson, told workers to use company money and time carefully.

She said this did not mean simply asking fewer employees to do more work.

Instead, she said Oracle should remove processes that do not help customers.

Oracle has also started another round of layoffs, which may affect thousands of people.

Reports say as many as 3,000 workers in India could be affected, but the company has not confirmed that number.

During the employee meeting, executives talked about customers, growth and AI instead of directly discussing the layoffs.

Oracle is trying to balance hiring and spending decisions with its plans to build more AI infrastructure.

Key facts

CFO message: Hilary Maxson told employees to be thoughtful about where Oracle spends its time and money.
Layoff round: Oracle reportedly began a second round of layoffs on September 14.
Potential India impact: As many as 3,000 employees in India may be affected, though Oracle has not officially confirmed the number.
Previous workforce reduction: Oracle's workforce had reportedly fallen by about 21,000 employees, or 13%, in the fiscal year ended May 31, 2026.
Cloud infrastructure growth: Oracle reported 121% growth in cloud infrastructure revenue.
First-quarter capital expenditure: Oracle's first-quarter capital expenditure was reported at $28.5 billion, compared with $8.5 billion a year earlier.
Fiscal 2027 spending forecast: Oracle maintained its fiscal 2027 capital expenditure forecast at $90 billion to $95 billion.

freepressjournal.in · 2 days ago