June 24, 2022

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Adios California, Oracle the latest tech company to leave California for the large open (low tax) Lone Star State

Adios California, Oracle the latest tech company to leave California for the large open (low tax) Lone Star State
Oracle is shifting its California headquarters to the Lone Star State, saying change of scene will "improve our employees’ quality of life and quality of output." "Oracle is implementing a more flexible employee work location policy and has changed its Corporate Headquarters from Redwood City, California to Austin, Texas. We believe these moves best position…

Oracle is shifting its California headquarters to the Lone Star State, stating modification of scene will “improve our workers’ lifestyle and quality of output.”

” Oracle is carrying out a more flexible staff member work area policy and has actually changed its Home office from Redwood City, California to Austin, Texas. Our company believe these moves best position Oracle for development and provide our workers with more flexibility about where and how they work,” the business said in a regulative filing.

” Depending on their role, this indicates that much of our staff members can pick their workplace area as well as continue to work from house part-time or all of the time. In addition, we will continue to support major hubs for Oracle around the globe, including those in the United States such as Redwood City, Austin, Santa Monica, Seattle, Denver, Orlando and Burlington, among others, and we anticipate to include other places in time.”

Houston skyline

HPE to move HQ from Silicon Valley to Texas, says Lone Star State is ‘appealing’ for recruitment, maintaining staff

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Oracle was established in Santa Clara in 1977 and has a big presence in Silicon Valley, but it’s not the first to abandon ship.

So what’s behind Oracle’s relocation? Is it the famous Texas barbecue joints, or the wide open spaces where a person can roam totally free, or even Austin’s famous live music scene? Nope, it’s basically down to cash – a factor notably missing in Oracle’s filing.

Silicon Valley realty prices are famously high, and taxes aren’t low either. With COVID-19 revealing no signs of slowing and lockdowns still in place, supervisors are learning that a lot of personnel can work anywhere and be just as productive, if not more so.

A relocation now allows Oracle, HPE and others to sell off all that empty workplace in California while prices are still reasonably high and open smaller areas in the low-tax environment of Texas. Wages will not require to be as high to get people to live there either, providing a big long-lasting gain.

” While some states are driving away businesses with high taxes and heavy-handed regulations, we continue to see a tidal bore of companies like Oracle transferring to Texas thanks to our friendly organization climate, low taxes, and the very best workforce in the country,” said Guv Greg Abbott in a declaration.

Will other business follow suit and leave the Golden State for less expensive climates? ®

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