Tech giant Oracle Corp. said Friday it will move its headquarters from Silicon Valley to Austin, Texas, and let many employees choose their office locations and decide whether to work from home.
The business software maker said it will keep major hubs at its current home in Redwood City, California, and other locations.
‘We believe these moves best position Oracle for growth and provide our personnel with more flexibility about where and how they work,’ the company said in a regulatory filing.
‘Depending on their role, this means that many of our employees can choose their office location as well as continue to work from home part time or all the time.’
The move comes the same week that Tesla founder Elon Musk announced that he has moved to Texas and after Hewlett Packard Enterprise also announced a move to the state earlier this month.
Tech giant Oracle Corp. said Friday it will move its headquarters from Silicon Valley to Austin, Texas, joining recent moves to the Lone Star State by Tesla’s Elon Musk and HP
Musk had criticized California officials for restrictions designed to limit the coronavirus pandemic.
Oracle’s CEO Larry Ellison is the second-largest individual shareholder in Tesla – behind Musk – and sits on the company’s board.
Texas Governor Greg Abbott quickly boasted about Oracle’s decision.
‘Oracle just announced they have moved their headquarters to Austin,’ Abbott tweeted.
Oracle’s CEO Larry Ellison, pictured above, is also the second-largest individual shareholder in Tesla
‘Texas is truly the land of business, jobs, and opportunity. We will continue to attract the very best.’
Texas has long targeted companies in high-cost California for relocation.
And Austin, in particular, has been attracting tech firms as home to the South by Southwest Festival, which has an ‘interactive’ portion devoted to internet innovations.
This month, Hewlett Packard Enterprise, one of the early companies in Silicon Valley, said it will move to the Houston area and build a campus with two five-story buildings by 2022.
‘HPE’s largest U.S. employment hub, Houston is an attractive market to recruit and retain future diverse talent, and is where the company is currently constructing a state-of-the-art new campus,’ the company said in a statement.
‘The Bay Area will continue to be a strategic hub for HPE innovation, and the company will consolidate a number of sites in the Bay Area to its San Jose campus.
‘No layoffs are associated with this move.’
The Oracle move comes the same week that Tesla (pictured right) founder Elon Musk announced that he has moved to Austin after a run-in with California officials and after Hewlett Packard Enterprise (pictured left) also announced a move to Texas earlier this month
Texas Governor Greg Abbott quickly boasted about Oracle’s decision on Twitter, pictured
And, entrepreneur Elon Musk also confirmed his move to Texas this week.
The Tesla co-founder and chief executive left California after a heated squabble earlier this year with local authorities, who ordered one of his auto factories closed to stop the spread of Covid-19.
Musk lashed out at California leaders including Gov….