Oracle Confirms Move To Texas: Report

REDWOOD CITY, CA — Another Silicon Valley company is about to Texodus.

Oracle joined the growing list of tech companies to ditch its Bay Area digs for the Lone Star state, Bloomberg reports.

The Redwood City-based software giant is the third confirmed iconic Silicon Valley company to move to Texas already this month.

Hewlett Packard Enterprise announced plans to move its headquarters to Houston on Dec. 3.

Elon Musk announced plans to move Tesla to Texas on Tuesday.

The moves are attributed to lower taxes and living costs offered in Texas and the seismic shift towards remote work that's been accelerated amid the coronavirus crisis.

Oracle said in a regulatory filing Friday that the move “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,” Bloomberg reports.

The company employed 135,000 at around a half dozen sites across the country as of late May according to the report.

Oracle was founded in 1977 in Santa Clara and moved to Redwood City in 1989, CNBC reports.

Dropbox, Palantir Technologies and 8VC are among other tech companies that have left Silicon Valley in recent months.

Upwards of 8,800 South Bay job cuts are expected by the end of the year in tech, manufacturing, food service and education, San Jose Spotlight reports.

The report cites more than 100 companies of WARN (Worker Adjustment and Retraining Notification) filings by Santa Clara County businesses.

Read more at Bloomberg News