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Oracle appoints Hilary Maxson as CFO to manage its $50 billion AI data centre push

Oracle has appointed Hilary Maxson, former executive vice president and group chief financial officer at Schneider Electric, as its new chief financial officer, effective 6 April 2026. Maxson reports to chief executive Clay Magouyrk and takes on the role at a moment when Oracle is committing $50 billion in capital expenditure for its current fiscal year, has laid off up to 30,000 employees, and operates as a central partner in the Stargate AI data centre joint venture with OpenAI and SoftBank.

Why is Oracle Laying Off Thousands of Employees?

Oracle is reportedly reducing its headcount by nearly 10,000, amid significant investments in building out its AI infrastructure

Oracle is reportedly laying off thousands of workers.

The cloud giant has started notifying workers of the cuts, which are in the “thousands,” sources tell CNBC. Oracle reported employing 162,000 people as of May 2025, and has plans to raise between $45 and $50 billion this year for its AI infrastructure buildout.