News Provided by CNBC
December 11, 2020
KEY POINTS
- Oracle is the latest tech company to relocate out of California.
- The coronavirus pandemic has given a number of tech companies an excuse to exit Silicon Valley.
- HPE announced its move to Houston earlier this month.
Oracle is the latest tech company to move its headquarters out of California. The company said on Friday it’s moving its headquarters from the Silicon Valley to Austin, Texas.
“Oracle is implementing a more flexible employee work location policy and has changed its Corporate Headquarters from Redwood City, California to Austin, Texas. We believe these moves best position Oracle for growth and provide our personnel with more flexibility about where and how they work,” a spokesperson confirmed to CNBC.
Bloomberg first reported the move.
A bulk of employees can choose their office location, or continue to work from home part time or full time, the company said.
“In addition, we will continue to support major hubs for Oracle around the world, including those in the United States such as Redwood City, Austin, Santa Monica, Seattle, Denver, Orlando and Burlington, among others, and we expect to add other locations over time,” Oracle said. “By implementing a more modern approach to work, we expect to further improve our employees’ quality of life and quality of output.”
