Oracle will move its headquarters from Silicon Valley to Texas. The company cites the flexibility of its employees as its justification. Oracle moves its headquarters to Texas.
Oracle moves its headquarters to Texas. Another company was added to the move to Texas. Silicon Valley continues to lose strong names. Silicon Valley’s high property prices combined with California’s high income tax are among the untold disadvantages of moving large companies. We shared in our news that Elon Musk also moved to Texas after many companies the other day. In this news, Oracle, a business, software and cloud services company, announced that it will move its headquarters from Silicon Valley to Texas to provide “more flexibility in where and how they work” for its employees. Elon Musk Moves to Tax Haven Texas Oracle said in a statement, “Depending on their roles, many of our employees can choose their office location and continue working from home part-time or full-time. We hope to further improve our employees’ quality of life and output quality by applying a more modern work approach. ” said. This move will provide a more flexible working policy for employees who can choose office locations or continue working from home. Technology companies have announced that they will continue the home-working or flexible working model taught by the COVID-19 pandemic. We can say that the high income tax rates of the state of California in addition to the high rent expenses cause the companies to prefer more suitable regions, while the salaries are cut together with the personnel reduction. About Oracle Oracle (ORCL) is one of Silicon Valley’s oldest companies. It was founded in 1977 in Santa Clara and is now headquartered in nearby Redwood City. The business, software and cloud services provider has approximately 135,000 employees. Recently, the company reached an agreement with ByteDance, the owner of TikTok, and retail giant Walmart, which was banned in the USA. After the deal, ByteDance aims to eliminate the danger of banning in America by selling its 20 percent stake to Walmart and Oracle.