Oracle has moved its headquarters from Redwood City to Austin, Texas, the company stated in a Friday filing with the U.S. Securities and Exchange Commission. The development was first reported by Bloomberg.
In the filing, the company added it is implementing “a more flexible employee work location policy.”
“We believe these moves best position Oracle for growth and provide our personnel with more flexibility about where and how they work,” the company said. “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 of the time.”
It wasn’t immediately clear what impact the change in headquarters will have to the Redwood City campus, although Oracle said it would continue to support the hub.
Per the filing, “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. By implementing a more modern approach to work, we expect to further improve our employees’ quality of life and quality of output.”
Oracle is Redwood City’s largest employer. In 2017, city data showed the company accounted for 13.54 percent of the city’s total employment with over 6,500 workers.
In reaction to the move, media outlets nationwide point out Oracle is the latest company to recently relocate their headquarters from California. Hewlett Packard Enterprise announced earlier this month its HQ is shifting from San Jose to Houston. Earlier this year, Palantir Technologies moved its headquarters from Palo Alto to Denver.