SAN FRANCISCO – Business computing giant Oracle yesterday said it is leaving Silicon Valley for Texas, as it embraces a remote-work model made common by the pandemic.
“We believe these moves best position Oracle for growth, and provide our personnel with more flexibility about where and how they work,” the firm said in response to an AFP inquiry.
“Depending on their role, this means that many of our employees can choose their office location, as well as continue to work from home part-time or all the time.”
Oracle is moving its headquarters from Redwood Shores in northern California to Austin, which has long been attracting tech firms and is home to the South by Southwest Festival, which has an “interactive” portion devoted to internet innovations.
“Another day, another global giant moving to Texas,” tweeted state Governor Greg Abbott.
“Welcome to the Lone Star State, @Oracle HQ!”
Oracle has offices in an array of US cities, including Austin.
Word of its move comes as internet companies that have been letting workers do their jobs remotely due to Covid-19 embrace the practice, which frees them to hire people who live far from the office and leaves firms less tethered to Silicon Valley campuses.
Colourful entrepreneur Elon Musk this week confirmed his move to Texas.
The Tesla co-founder and chief executive left California after a heated squabble earlier this year with local authorities, which ordered one of his car factories closed to stop the spread of the coronavirus.
Texas also offers a lower cost of living and no state income tax, both of which may appeal to Oracle, as well as the South Africa-born Musk, 49, who overtook Bill Gates to become the world’s second-wealthiest person last month as Tesla stocks reached ever-greater heights.
Musk justified the move by saying he needs to be closer to two of his biggest projects: the development of rockets by his company, SpaceX, in the southern part of the state, and construction of a Tesla plant near Austin. – AFP, December 12, 2020
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