Oracle Has More Employees In California Than HQ Texas, Documents Show Ahead Of Nashville Move: Report

Three years after Oracle Corp. ORCL relocated its headquarters from California to Texas, Chairman Larry Ellison recently revealed plans for yet another move, this time to Nashville.

Documents indicate that Oracle’s Texas move saw limited employee relocation, with California still housing more office workers, despite the headquarters shift, according to a report from Bloomberg.

Internal documents suggest that approximately 6,900 employees are based in California, compared to 2,500 in Texas, with 37,000 classified as remote workers across the U.S., including CEO Safra Catz based in Florida and Ellison in Hawaii, per the report.

In 2020, Oracle, alongside other Silicon Valley tech companies, initially moved its headquarters from California to Austin, Texas.

Oracle’s choice of Austin for its “new” corporate headquarters in 2020 suggested a diminishing economic role for California, although significant operations remained in the state, notably in Redwood City, Santa Clara, and Pleasanton.

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The $30 billion acquisition of electronic medical records company Cerner in 2022 contributed to more employees in Missouri than in Texas, and major hubs exist in Seattle, Boston, and Denver, as per the documents that the report cited.

Nashville’s appeal stems from its prominence in the healthcare sector and quality of life, factors cited by Ellison in Oracle’s decision. 

The company received substantial incentives from the city and state to create jobs.

Austin’s leaders expressed surprise at Ellison’s announcement, with uncertainties looming over Oracle’s future presence in the city.

While Oracle’s intentions for Austin remain undisclosed, history suggests a Nashville move may not drastically alter its operations, despite the buzz surrounding the announcement.

Oracle stock gained over 22% in the last 12 months. Investors can gain exposure to the stock via Themes Cloud Computing ETF CLOD and IShares Expanded Tech-Software Sector ETF IGV.

Also Read: Oracle Bets Big On Japan’s Cloud Boom With $8B Investment

Price Action: ORCL shares closed lower by 0.61% at $116.49 on Monday.

Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

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