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.
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.