Link:
https://www.cnbc.com/2020/12/11/oracle-is-moving-its-headquarters-from-silicon-valley-to-austin-texas.html
HPE announced its move to Houston earlier this month.
Texas is cheap because no one wants to live there.
It is the second most populated state in the country and is growing fast and should eventually overtake California. It would appear that many people want to live there.
That this is happening despite California's wonder climate speaks volumes,
Texas is cheap because no one wants to live there. Look at the house prices.
Does LE draw a real income? or does he receive payments via interest, dividends and stock sales? I honestly do not know but that could make a big difference right there.
I'm sure his accountants have it all figured out.
I don't think you actually have to physically reside somewhere for it to be your
official state of residence.
Yeah, that’s fortunately not how it works. Give it a try and see what happens.
Regarding state income tax, you have to live in a zero income tax state to get the full benefit of your job relocating to Texas, else you will end up paying income tax of the state you reside in.
Better to pay income tax in HI than live in TX, lol?
I don't think you actually have to physically reside somewhere for it to be your official state of residence. For instance, a lot of billionaires have ranches (where they don't live) in Wyoming, which has no state income tax.
Larry has announced he moved to Lanai. So he won't be kayaking in TX. Better to pay income tax in HI than live in TX, lol?
I'm the OP. Not going to disagree with you, it is a big deal tax wise and confidence wise in California, but Corps have been setting up their HQ's in friendly states for years, that is nothing new.
Clear warning for Oracle workers in west coast. It takes about 5 years before jobs begin to vanish in Redwood city and Seattle. Make no mistake though this a clear sign your employment in CA will not be business as usual. Seen this in several companies now, Nissan, Boeing, HPE etc. All put out statements they are committed to CA,WA etc. but are making plans to reduce workforce in the old location
Dupont was/is "based" in Delaware for the tax breaks.
Most of corporate is incorporated in Delaware, and has been for a long time. Moving HQ's is a different ball of wax. It's a vote of no confidence in California.
So they re-incorporate in Texas and have a mailing address there, big deal. This is nothing new, many credit card banks do this in Delaware and South Dakota. Dupont was/is "based" in Delaware for the tax breaks.
Are they moving Seattle employees to Texas?
You should know by now that asking questions like that will only get you a troll's response.
And you believe what LE said? Sure they don’t move people, they just lay them off and keep small number people there as a hub.
Most of silicon valley is already in Austin: Google, Amazon, Facebook, Dropbox, Microsoft, Adobe, Apple, ... They declared HQ, nothing more. Internal email from Larry says they have no plan to move any persons. People are looking too hard into this being some massive move...
Are they moving Seattle employees to Texas?
https://sanfrancisco.cbslocal.com/2020/02/24/leaving-bay-area-47-percent-survey-discontent-housing-crisis-traffic/
"Growing Discontent: 47% Consider Leaving Bay Area In Latest Survey"
Compared to TX it sure as f**k is. No contest.
Nope, it's a cesspool. OpenWorld attendees have been complaining about having to deal with deranged homeless and sidewalk feces, so O is moving OpenWorld to Las Vegas. And no, I don't live in Texas. But if I had to choose between the two, it would be Austin, hands down.
Bend over, grab your ankles, prepare for "Larry" and receive.
As if the Bay Area is some kind of paradise.
Compared to TX it sure as f**k is. No contest.
I honestly can’t think of anything more horrible than being forced to move from California to Texas.
As if the Bay Area is some kind of paradise.
I have always assumed that it was the HQ already, it is Texas after all!
Are they going to let the prod dev big wigs work remotely from home or 3op or 4op? Are Larry and Safra moving to Texas? Or is it just a middle finger for CA?
All going. Everything and everyone.
Just be careful if you purchase real estate in TX. There are very few if any zoning laws. It’s not as regulated as on the Coasts. Do your research so you don’t end up next to a toxic waste dump.
YEEEEEHAAAAWWWWW!!
Now Oracle won't have to compete with the other big tech companies on compensation.
Couldn't win anyway.
HQ was only a small part of Redwood Shores.
You mean 5op was a small part. Sure.
Is anyone in the other buildings planning to work from the office in the future?
Are they going to let the prod dev big wigs work remotely from home or 3op or 4op? Are Larry and Safra moving to Texas? Or is it just a middle finger for CA?
OMG, they must really want people to quit! I honestly can’t think of anything more horrible than being forced to move from California to Texas.
Good luck selling the current HQ campus.
HQ was only a small part of Redwood Shores.
I am in procurement and this is just horrible... I am in shock, this is never going to happen.
Ha Ha welcome to Trumplandia
Just the latest in a long series of humiliations for Oracle employees.
Thank you sir, may I have another!!!
This is good for Oracle, bad for Texas. They don't need any more Californians.
No one does.
Just the latest in a long series of humiliations for Oracle employees.
I dunno, think of all the useless and arrogant PMs at HQ - Shay Schmetzer comes to mind (just one of many corp no-ops). They deserve being uprooted and shipped off to Texas. Will be "character building" for them.
What a nightmare for the employees that have to physically be at HQ! I mean Texas? Seriously??
This is pretty funny, cuz Austin sux, totally. A perfect match for a company that sux too.
It's particularly interesting given Ellison and Musk have become close in recent years, with Ellison buying a large chunk of Tesla and joining the board (now a $9.5 billion personal holding). Zero chance these moves weren't widely discussed between them over time.
Relevant text: 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. 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. 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.