Oracle is moving its global headquarters from Silicon Valley to Austin, Texas, the company announced in a filing with the Securities and Exchange Commission.
Oracle wrote in its quarterly SEC filing that Oracle is implementing a more flexible employee work location policy and has moved its corporate headquarters from Redwood City, Corporate Lifornia, to Corporate Stein, Texas. “We believe this move is the best position for growth and provides our employees with more flexibility about where and how they work.”
The company will maintain maintain fees at its previous headquarters in Redwood City, California and other offices in its country. Oracle has 135,000 employees.
Bloomberg reports that Rachel opened the Austin Campus in 2018, hoping to take advantage of the region’s low cost of living. The campus was built to host 10,000 employees.
The skyrocketing price of real estate in the San Francisco Bay Area and perhaps California’s high taxes have encouraged a large number of Silicon Valley companies to move out of California. The epidemic has also forced companies to rely more on remote work, which could allow companies to decentralize their operations.
HP Enterprise, an enterprise software software company that was cut from the original HP in 2015, moved its headquarters to the Houston area last week. This week, Elon Musk announced that he had personally traveled to Texas to stay close to Tesla’s new car factory at SpaceX’s Boca Chika launching facility (where Starship is being tested) and in the Stein area.
Apple announced a major expansion to its Austin campus two years ago. It is headquartered in Silicon Valley.
Pelentier also recently announced that he is leaving Silicon Valley, but he is moving to Colorado.
Oracle founder Larry Ellison is one of Donald Trump’s most high-profile supporters in the tech sector, so he thinks he sits more in a more conservative state. It’s not clear if Allison is going to Texas personally. Allison sat on Tesla’s board.
