Tech giant Oracle Corp. said Friday it will move its headquarters from Silicon Valley to Austin, Texas and allow more employees to choose their office fee locations and decide to work from home.
The professional software software maker has said it will keep major centers at its existing home in Redwood City, California and other locations.
The company said in a regulatory filing that “we believe this move is the best position for growth Oracle and provide our employees with more flexibility about where and how they operate.”
‘Depending on their role, this means that many of our employees can choose the location of their office fees as well as continue to work from home part time or all the time.’
The move comes in the same week that Tesla founder Elon Musk announced he had moved to Texas and Hewlett-Packard Enterprise also announced plans to relocate to the state earlier this month.
Tech giant Oracle Corp. said Friday it will move its headquarters from Silicon Valley to Stin, Texas, joining the latest move to Lone Star State by Tesla’s Elon Musk and HP.
Musk criticized California authorities for restrictions designed to limit the coronavirus epidemic.
Oracle CEO Larry Ellison is Tesla’s second-largest individual shareholder – behind Musk – and he sits on the company’s board.
Texas Governor Greg Abbott quickly bragged about Oracle’s decision.
‘Oracle has just announced that they have moved their headquarters to Austin,’ Abbott tweeted.
Oracle CEO Lee Allison, pictured above, is also the second largest individual shareholder in Tesla.
‘Texas is truly a land of trade, jobs and opportunity. We will continue to attract the very best. ‘
Texas has long targeted high-value companies in California for migration.
And Austin in particular, is attracting tech companies like Home in the South through the Southwest Festival, which has an ‘interactive’ part dedicated to Internet innovations.
This month, Hewlett-Packard Enterprise, one of Silicon Valley’s startups, said it would move to the Houston area and build a campus with two five-story buildings by 2022.
The company said in a statement that “HPE’s largest U.S. The employment hub, Houston, is an exciting market for the recruitment and retention of diverse talents in the future, and the company is currently building a state-of-the-art new campus here. ‘
‘Bay Area HPE will continue to be a strategic hub for innovation, and the company will assemble a number of Bay Area sites on its San Jose campus.
‘There is no layoff associated with this move.’
The Oracle move came the same week that Tesla (pictured right) founder Elon Musk announced that he had moved to Austin after a run-in with California officials, and Hewlett-Packard Enterprise (pictured left) also announced moving to Texas earlier this month. .
In the picture, Texas Governor Greg Abbott quickly boasted about Oracle’s decision on Twitter.
And, entrepreneur Elon Musk also confirmed his move to Texas this week.
Tesla’s co-founder and chief executive left California earlier this year after a heated dispute with local authorities, who ordered the closure of one of its auto factories to prevent the spread of the Covid-19.
Kasturi scoffed at California’s leaders, including government news and Elmeida County officials, when production shutdowns at his company’s factories in Fremont stopped.
Kasturi rejected the health care system and initially reopened it, telling people during a shocking April earnings call to ‘give people back their glorious freedom.’
It is reported that he then started cooperating with Government Abbott.
Elon Musk, co-founder and chief executive of Tesla, pictured above, left California earlier this year after a heated dispute with local authorities, who ordered the closure of one of its auto factories to stop the spread of COVID.
Texas also offers low-cost state income tax offers for subsistence, which could appeal to both Oracle as well as South African-born Musk, who became Bill Gates the second richest man in the world when he arrived in Tesla stock last month. Greater ights height.
Kasturi justified the move by saying it needed to stay close to its two biggest projects: the development of a rocket by his company SpaceX in the southern part of the state and the construction of a Tesla automobile plant near the state capital, Austin. ‘
Yet he added in an interview with the Wall Street Journal that California had also become “satisfied” when it came to innovation.
‘They get a little bit of happiness, a little bit of entitlement, and then they won’t be able to win the championship anymore,’ he told the publication.
Kasturi claimed that California – and especially Silicon Valley – has been ‘winning for a long time’.
‘I think they’re taking it [winning] Approve a little bit, ‘he said.
Currently, both Tesla and SpaceX are headquartered in California. It is not clear if Musk will officially move both businesses to Texas at a later date.
Kasturi has not relocated to the Lone Star State from where they have gone. It is also unclear whether he will buy any property there, although he said earlier this year that he wants to rid himself of the property and is only interested in renting.
During the summer, the Musk Foundation officially strengthened its headquarters in Stein.
However, Kasturi is also known for spending time at Boka Chika on the southeastern coast of the state where the SpaceX facility is located.
In 2018, Toyota also moved its U.S. headquarters from Southern California to the suburbs of Plana, Texas, Dallas.
Shares of Oracle skyrocketed on Friday morning, moving upwards after the announcement of the relocation in the afternoon, pictured above.
In its most recent fiscal year ending May 31, Oracle posted revenue of 10. 10.1 billion, compared to revenue of about 39 39 billion. Its shares have risen steadily throughout the year
In its most recent fiscal year ending May 31, Oracle posted revenue of લગભગ 10.1 billion, with revenue of approximately 39 39 billion.
After a dramatic rise in its shares on Friday morning, they continued to move upwards after the announcement of the relocation in the afternoon.
The company was founded in 1977 in Santa Clara, California and will employ about 135,000 people by May 31.
Oracle has U.S. There are office fees in the array of cities.
Oracle’s move is prompted by Internet companies that allow workers to do their work remotely due to the epidemic, allowing them to hire people who live far from office fees, and companies will not handle less on Silicon Valley’s campus.
.
