Oracle joins HQ movers to Texas from Valley, expands work-from-home options for workers
RESEARCH TRIANGLE PARK – Tech giant Oracle Corp. will be relocating its headquarters from Silicon Valley to Austin, Texas, letting many employees choose their office locations and decide whether to work from home.
“Depending on their role, this means many of our employees can choose their office location and continue working from home part-time or all the time,” Oracle said in a statement.
“By implementing a more modern working approach, we expect to further improve the quality of life and the quality of our employees,” added the company.
Oracle is strongly represented in the triangle.
The enterprise software maker announced Friday that it will keep key hubs in its current Redwood City, California home and other locations.
“We believe these moves will best position Oracle for growth and give our employees more flexibility about where and how they work,” the company said in a filing for approval.
Cnet noted that Oracle opened a large corporate campus in Austin in 2018, but reportedly has no plans to move employees from its existing headquarters in Redwood City, California to Austin.
The move comes the same week that Tesla founder Elon Musk announced he had moved to Austin. Musk had criticized California officials for restricting the coronavirus pandemic.
Texas governor Greg Abbott was quick to brag about Oracle’s decision.
“Oracle just announced that they have moved their headquarters to Austin,” Abbott tweeted. “Texas is truly the land of business, jobs, and opportunity. We will continue to attract the best. “
Texas has long targeted companies in expensive California for the move. This month, Hewlett Packard Enterprise, one of the first Silicon Valley companies, announced that it would be moving to the Houston area by 2022 and building a campus of two five-story buildings. In 2018, Toyota moved its US headquarters from southern California to southern California’s Plano, Texas, a suburb of Dallas.
In its last fiscal year, which ended May 31, Oracle posted profits of $ 10.1 billion on sales of approximately $ 39 billion. The company was founded in Santa Clara, California, in 1977 and had approximately 135,000 employees as of May 31.