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Oracle on Monday named Hilary Maxson as its new chief financial officer, a key move as the software giant navigates thousands of layoffs and ramps up its $50 billion investment in artificial intelligence (AI).

Maxson, 48, joins Oracle from French industrial conglomerate Schneider Electric, where she held the same role, and assumes her position effective immediately.

The appointment comes as Oracle implements a round of job cuts that reportedly affects thousands of employees across the US, India, Canada, and other regions.

Workers were notified via early-morning emails last week, detailing severance packages and termination procedures.

While the company has not disclosed the total number of layoffs, sources told CNBC that the reductions are part of a broader organizational restructuring.

"From a financial perspective, it seems inefficient," one anonymous Oracle employee wrote on internal forums, NY Post reported.

"Significant severance packages while hiring new employees—this is cold." The layoffs coincided with news that Oracle has been filing petitions to hire foreign workers under the H-1B visa program, sparking frustration among US employees.

The company submitted roughly 3,126 petitions in fiscal years 2025 and 2026, including 436 this year alone.

Hilary Maxson Takes Helm at Oracle CFO

Maxson, a Cornell graduate with an MBA, brings a decorated career in financial services, including roles at The AES Corporation, Citibank, and Bank of America.

According to FoxBusiness, she will report to Oracle co-CEO Clay Magouyrk and will earn an annual base salary of $950,000, along with a performance-based bonus targeting $2.5 million.

In a statement, she said she is "excited to join at this pivotal moment" and looks forward to working with Oracle's leadership to "continue to invest with discipline and to translate this momentum into durable, long-term value for customers and shareholders."

Oracle is doubling down on AI, projecting $50 billion in capital expenditures for its fiscal year ending in May 2026, more than twice the previous year's spending.

Much of the company's restructuring costs—expected to reach $2.1 billion—will cover severance and related employee expenses.

Analysts note that Oracle's stock has been volatile amid the AI expansion, rising about 14% over the past year but falling sharply in recent months amid market uncertainty.