Oracle moves from California to Texas

The company intends to reduce operating expenses.

On Friday, Oracle Corporation announced that it is moving its headquarters from Redwood City, California, to Austin, Texas.

Oracle explained this decision as a desire to reduce operating costs associated with high taxes in California.

The coronavirus pandemic also affected the move, which caused a massive shift to remote work, making it pointless to maintain expensive offices.

Oracle said in a statement that employees would be able to choose the location of their office and work from home full-time or part-time.

In 2018, Oracle created a branch in Austin, designed for 10 thousand employees.

Oracle added to a string of companies that left Silicon Valley after the pandemic began.

In particular, in December, Hewlett Packard announced the departure from Silicon Valley, which was at the origin of forming a high-tech cluster in California. Hewlett Packard moved its headquarters to Texas.

In August, the Analytics Company Palantir Technologies moved from Palo Alto, California, to Denver, Colorado.

Tesla founder Elon Musk also said this week that he moved from California,

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