Oracle strikes its headquarters from Silicon Valley to Texas

© Reuters. The Oracle logo appears on an office building in Irvine, California

(Reuters) – manufacturer of enterprise software Oracle Corp. (NYSE 🙂 announced Friday that corporate headquarters will be relocated from Redwood (NYSE 🙂 City, California to Austin, Texas.

Oracle is the latest tech company to leave Silicon Valley after the COVID-19 pandemic sparked a wider shift to remote work, causing companies to rethink California’s higher operating costs and taxes.

Employees can choose their office location and choose whether they want to work part-time or full-time from home, Oracle announced in an admission application.

“We believe these moves will best position Oracle for growth and give our employees more flexibility in where and how they work,” said the 43-year-old company.

Hewlett Packard Enterprise (NYSE :), a spin-off of the decade-old company featured frequently in reports on the founding of Silicon Valley, announced earlier this month that it would be moving its headquarters from California to the Lone Star state .

Earlier this week, Elon Musk, maker of the Tesla (NASDAQ 🙂 Inc electric car, said he had also moved to Texas from California.

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