San Francisco: Business computing giant Oracle said on Friday that it will use the remote work model that is widespread in the pandemic and will therefore leave Silicon Valley for Texas.
“We believe these moves best position Oracle for growth and provide our personnel with more flexibility about where and how they work,” Oracle 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 moved its headquarters from the Redwood Coast of Northern California to Austin. Austin has always attracted technology companies and is the venue of the Southwest Music Festival in the South. The Southwest Music Festival has an “interactive” section dedicated to Internet innovation.
“Another day, another global giant moving to Texas,” the state governor, Greg Abbott, said in a tweet.
“Welcome to the Lone Star State, @Oracle HQ!”
Oracle has offices in many cities in the United States, including Austin.
Oracle’s move came about because Internet companies have been allowing workers to complete their work remotely due to the pandemic, which frees them from hiring people away from the office and frees the company from the constraints of the Silicon Valley campus.
The colourful entrepreneur Elon Musk confirmed his move to Texas this week.
Tesla co-founder and CEO Musk said that after a fierce quarrel with local authorities earlier this year, he left California and ordered local authorities to close one of his car factories to prevent the spread of Covid-19 .
Texas also offers a lower cost of living and no state income tax, both of which may appeal Oracle as well as South Africa-born Musk, 49, who overtook Bill Gates to become the world’s second-wealthiest person last month as Tesla stock reached ever-greater heights.
Musk justified the move by saying he needed 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 automobile plant near state capital Austin.