Oracle to move HQ out of Silicon Valley to Texas

Oracle is the latest technology company to move its headquarters out of Redwood City, California. The company announced on Friday it is moving its corporate HQ from Silicon Valley to Austin, Texas, to provide workers with “a more flexible employee work location policy.” The move to Austin “means that many of our employees can choose their office location as well as continue to work from home part time or all of the time,” Oracle said in a statement.

Founded in 1977, Oracle is one of the older Silicon Valley tech firms and its cylindrical buildings have been an iconic landmark on the Redwood skyline for decades. The COVID-19 pandemic and the rise of remote working, as well as California’s higher taxes and cost of living, has led to a number of tech companies making plans to leave California, including Hewlett Packard Enterprise and Palantir Technologies.

Oracle said it will continue to maintain facilities around the US, including those in Redwood City, as well as in Santa Monica, Seattle, Denver, Orlando, Florida, Burlington and Massachusetts, amongst others.