Top News

• Cutbacks are currently in the air in IT companies across the globe
• Oracle lays off around 12,000 employees
• The company now has a female leader in its fleet

Oracle News: While the winds of cutbacks are currently blowing in IT companies around the world, a decision taken by the Oracle company has caught everyone’s attention. After laying off around 12,000 employees in the past few years, the company has now added a female leader to its fold.

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Who are those women?

Oracle, one of the world’s largest IT and software companies, has appointed Hilary Maxon as its new Chief Financial Officer (CFO). They are offered a very attractive salary package. The appointment comes at a time when the company has recently laid off around 30,000 employees worldwide, including around 12,000 in India.

As the company cuts costs and makes new hires for senior positions, the timing of this appointment and the large salary package are likely to attract attention. Maxon will receive an annual base salary of $950,000 ($950,000), according to Oracle’s official information. Which is approximately 78 million rupees i.e. ₹78 million in Indian Rupees. He will also get a bonus of Rs 2.5 million i.e. ₹207.5 million.

Who is Hilary Maxon?

Maxon holds a degree and an MBA from Cornell University. She also serves as a Non-Executive Director and Audit Committee Key Chairperson of Anglo American plc. Prior to joining Oracle, Maxon served as Executive Vice President and Group CFO at Schneider Electric. The company is globally recognized for its work in electrification, automation and digital systems and has an annual revenue of more than 45 billion dollars, i.e. approximately 3.7 lakh crore rupees (approximately 1.7 trillion dollars).

Appointments made after dismissal of employees

The appointment comes at a time when Oracle is undergoing massive layoffs. According to reports, the company has laid off nearly 30,000 employees in the past few months, of which around 12,000 jobs have been cut in India alone. These staff cuts were part of broader cost-cutting measures as Oracle restructured its operations to focus more on cloud and AI-based development.

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