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Oracle moves headquarters from California to Texas
The exodus of corporations from Silicon Valley has been brewing for a long time, and the pandemic only proved that the geographical location of employees in the modern world does not play such an important role. Founded in 1977, Oracle Corporation announced this week that it will move its headquarters from California to Texas.
Image source: Reuters
Bloomberg was the first to report this, citing an official document received by US regulators. This is not the first move for Oracle in the history of the corporation. Since its founding in 1977, it has been based in Santa Clara, but in 1989 it moved to Redwood City, but both cities are in California, so during the relocation of its headquarters to Austin, the company will leave this state for the first time.
Some of the staff will be able to stay in California, Oracle will retain representative offices in other US cities. Under the new conditions, employees will be able to work remotely more often, visiting the office as needed. As of the end of May, the number of Oracle staff reached 135 thousand people. The campus in Austin, the administrative center of Texas, was founded by Oracle back in 20221, it implied the presence of apartments for 10 thousand people, so the company began to prepare for the move from California in advance.
Tech companies are believed to be looking for more comfortable regions in the United States to house headquarters due to high taxes and expensive real estate in California. Recently it became known that the second most valuable person in the world, the founder of Tesla and SpaceX Elon Musk, moved to Texas from California, motivating his decision by the need to devote more time to local business projects. HPE Corporation, which is considered to be one of the “old-timers” of Silicon Valley, also recently announced the relocation of its headquarters from San Jose to Houston, Texas. Analytical software specialist Palantir Technologies moved headquarters from Palo Alto to Denver, Colorado this year.