Oracle CFO says 'doing more with less' isn't the answer in all-hands after layoffs
The remarks came a day after Oracle began a new round of layoffs, following cuts earlier this year.
TL;DR
- Oracle's new CFO, Hilary Maxson, rejected the 'doing more with less' philosophy.
- The company is prioritizing simplifying processes that don't benefit customers and making clear choices on resource allocation.
- Oracle is making substantial investments in AI infrastructure, leading to increased capital expenditures and debt.
- The company has undergone layoffs, reducing its workforce by 13% in the last fiscal year.
- Executives focused on growth, customer demand, and AI opportunities during a recent town hall.
- Co-CEO Mike Sicilia urged employees to consider how their work directly benefits customers.