A day after reporting better-than-expected fiscal Q2 results, and offering an upbeat take on its business, database giant Oracle said it will move its headquarters from Silicon Valley to Austin, Texas, according to a report this evening by CNBC's Jessica Bursztynsky, citing a company spokesperson.
Oracle cites flexibility of employee work as the reason, notes Bursztynsky:
"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 for growth and provide our personnel with more flexibility about where and how they work," a spokesperson confirmed to CNBC.
"In addition, we will continue to support major hubs for Oracle around the world, including those in the United States such as Redwood City, Austin, Santa Monica, Seattle, Denver, Orlando and Burlington, among others, and we expect to add other locations over time," Oracle said. "By implementing a more modern approach to work, we expect to further improve our employees' quality of life and quality of output."
The gleaming green, cylinder-shaped towers bearing the Oracle logo have been a signature image on the Silicon Valley landscape for years. The campus is sometimes referred to as The Emerald City.
Oracle's announcement follows Tesla CEO Elon Musk this week saying that he has personally moved to Texas.
It also follows Hewlett Packard Enterprise's announcement a week and a half ago that it plans to move its headquarters from another Silicon Valley town, San Jose, California, to Houston, Texas, citing similar reasons of flexibility