Enterprise software program maker Oracle Corp stated on Friday it was shifting its company headquarters to Austin, Texas from Redwood Metropolis, California.
Oracle is the most recent tech agency to exit Silicon Valley after the COVID-19 pandemic triggered a broader shift to distant work, making corporations rethink California’s larger operational prices and hefty taxes.
Workers can decide their workplace location and select whether or not to earn a living from home part-time or full-time, Oracle stated in a regulatory submitting.
“We consider these strikes finest place Oracle for development and supply our personnel with extra flexibility about the place and the way they work,” the 43-year-old firm stated.
In 2018, Oracle arrange a campus in Austin that would assist a ten,000-strong workforce, in a bid to satisfy growing demand for its cloud enterprise.
Hewlett Packard Enterprise, a by-product of the decades-old company usually talked about within the accounts of the founding of Silicon Valley, stated earlier this month it could transfer its headquarters from California to the Lone Star State.
Information analytics agency Palantir Applied sciences additionally shifted headquarters to Denver, Colorado from Palo Alto, California in August.
Earlier this week, electrical car-maker Tesla Inc’s Elon Musk stated he had relocated to Texas from California, which has the best private revenue tax price in america.