Oracle Corporation announced this week that it was moving its 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 position of employees in the modern world does not play such an important role. Founded in 1977, Oracle Corporation announced this week that it was moving its headquarters from California to Texas.
Bloomberg reported this, citing the first official document obtained 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 the company will leave this state for the first time during the relocation of its headquarters to Austin.
Some of the staff will be able to stay in California, and will remain at Oracle 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 Oracle staff reached 135 thousand people. The campus in Austin, the administrative center of Texas, was founded by Oracle back in 2018, 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 better locations 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, widely regarded as one of Silicon Valley's "old-timers", also recently announced it is moving its headquarters from San Jose to Houston, Texas. Analytical software specialist Palantir Technologies moved its headquarters from Palo Alto to Denver, Colorado this year.