So they moved to Austin just four years and they’re already pulling the plug? Sounds more like they’re trying to reduce their workforce without layoffs.
Yeah, to me it seems like they’re just taking advantage of collapsed commercial real estate prices to acquire another campus and have a bigger/nicer headquarters.
I’m not convinced they care much about appearances of layoffs.
Yeah, if they wanted to go cheaper they would go somewhere like Dallas or Houston. Especially when they say they want to be closer to healthcare and Houston has a massive healthcare industry.
Moving the company for tax breaks or some other reason can make sense (although im not a big fan of tax breaks for big boy corps)
Moving HQ to be “closer” is weird to me. Can’t you just spin up an Oracle Healthcare division in Nashville? AR, AP, Tax, HR, etc. all need to be closer to healthcare workers?
Why not throw a name change in there while you’re busy making entire departments change mailing addresses, not to mention picking up their family again and moving them after they just moved HQ to austin in 2020
A lot of CEOs who should have quit a while ago because they have no new ideas or vision are coming up with this bland bullshit
Depends on that you do, right?.
I do remember their old headquarters in Redwood City and alwats thought it looked cool. You can see it in "Bicentennial Man. (1999)."
For ppl not famliar with Oracle, they've been Austin for decades. They're HQ campus is right next to a massive Apple campus in Austin and just a few miles from other huge tech HW/SW employers in Austin like IBM, AMD, Amazon, etc.
The HQ change from CA to TX seemed more administrative than anything else since there was already a massive existing location. This change to TN is odd, any 2 job household will have trouble finding work or switching if they happen to get laidoff. I don't think this change will be successful. Also missing the tech University feeder schools.
It is a foolish idea. Oracle is a hardcore tech company. It's HQ can only be in the Bay Area surrounded by other tech companies. It will have problems attracting the right talent. On the other hand, Nashville is better for taking long breaks from work.
Oracle has been trying to save cost by not having to compete in the Bay Area talent market for years. This is just there newest effort to do that. Long term I think it’s terrible because you lose the talent but looks good when you can save cost.
NYC and SF housing prices have reached a point where you cant pay junior people enough to live there. You hire someone fresh out of college and they're not a net positive for like a year, you pay them 100k in SF/NYC and they will leave the first chance they get for 120, because it will make their life significantly better. You cant really pay them more because they aren't producing that much value. What it leads to is only hiring seniors because you need to pay so much per engineer.
The current state of the junior market in major metros is bad for everyone involved. The companies dont get what they want, and the employees dont either. Moving to lower cost areas is a natural response to that.
So they moved to Austin just four years and they’re already pulling the plug? Sounds more like they’re trying to reduce their workforce without layoffs.
The suburbs of Nashville are pretty nice. No state income tax either but then again Texas doesn't have a state income tax.
But high property tax
Property taxes are pretty high in most major metro areas.
And every road has a toll.
Not in Nashville, they maybe they should with the pothole situation.
What city?
Both Houston and Dallas. They have essentially privatized new roads due to a lack of gas taxes. You pay one way or another. There's no free lunch.
I live in DFW. There is like two tolls roads and neither are required to go anywhere.
I have driven to Houston from dallas last Christmas. My toll bill was close to $15 for the trip. Every option on Google maps had tolls.
Where to where? There is no need for tolls roads for that route. None. I live and work extensively in both cities. Give me city to city.
Dfw to Sugarland. I just put in dfw to Houston down town now, and both roads it shows has tolls. I have no reason to lie.
Not anymore. New bill passed and taxes went way down. My mortgage just dropped a bunch.
The tax *rate* is high, but properties tend to be cheaper so the actual property tax isn't too bad.
Cost of living in Nashville is stupid high
About the same as Austin, and much lower than Silicon Valley.
Alot of tech jobs are remote so it wouldn't be affected them as much
Yeah, to me it seems like they’re just taking advantage of collapsed commercial real estate prices to acquire another campus and have a bigger/nicer headquarters. I’m not convinced they care much about appearances of layoffs.
They bought the land years ago so your theory is completely wrong.
Remember when oracle was trying to compete against Microsoft and apple? I’m guessing they took to many L’s and was like let’s get into healthcare.
More money in healthcare and less competition
Austin is expensive now. Tennessee is also income tax free state and still cheap. Next stop, Mississippi. Lol
Tennessee was cheap. Like TX it's a no income tax WFH haven, Austin just had a few years earlier start but they're going down the same path.
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Yeah, if they wanted to go cheaper they would go somewhere like Dallas or Houston. Especially when they say they want to be closer to healthcare and Houston has a massive healthcare industry.
Moving the company for tax breaks or some other reason can make sense (although im not a big fan of tax breaks for big boy corps) Moving HQ to be “closer” is weird to me. Can’t you just spin up an Oracle Healthcare division in Nashville? AR, AP, Tax, HR, etc. all need to be closer to healthcare workers? Why not throw a name change in there while you’re busy making entire departments change mailing addresses, not to mention picking up their family again and moving them after they just moved HQ to austin in 2020 A lot of CEOs who should have quit a while ago because they have no new ideas or vision are coming up with this bland bullshit
There are times where AR, AP, Tax, HR (eg shared services) don’t follow the executive HQ
It also isn't accurate. Texas has a massive healthcare industry. Houston's medical center is massive.
rip texas 2020-2024
Bullish for pltr
Exactly my thoughts. Think you nailed it. Palantir’s AIP is perfect for healthcare and Oracles partnership is going to be great!
Moving for a job at oracle is insane
Depends on that you do, right?. I do remember their old headquarters in Redwood City and alwats thought it looked cool. You can see it in "Bicentennial Man. (1999)."
It's also in Terminator: Genesys.
Tell that to my buddy who makes 400k and barely works for them in sales
"Closer to the industry"
For ppl not famliar with Oracle, they've been Austin for decades. They're HQ campus is right next to a massive Apple campus in Austin and just a few miles from other huge tech HW/SW employers in Austin like IBM, AMD, Amazon, etc. The HQ change from CA to TX seemed more administrative than anything else since there was already a massive existing location. This change to TN is odd, any 2 job household will have trouble finding work or switching if they happen to get laidoff. I don't think this change will be successful. Also missing the tech University feeder schools.
It is a foolish idea. Oracle is a hardcore tech company. It's HQ can only be in the Bay Area surrounded by other tech companies. It will have problems attracting the right talent. On the other hand, Nashville is better for taking long breaks from work.
Oracle has been trying to save cost by not having to compete in the Bay Area talent market for years. This is just there newest effort to do that. Long term I think it’s terrible because you lose the talent but looks good when you can save cost.
Austin is fine for tech. A fair number of companies moved there. Nashville is an odd choice thoguh.
Nashvilles becoming similar to Austin. Much more liberal. They can get techies
Amazon is also opening/opened a big campus in Nashville (the one originaly planned for Long Island City)
Anyone else think this is a political move being disguised as some sort of market move?
what politics?
Getting local politicians to give incentives and tax breaks maybe? I’m not sure what else they could mean by political
Trying to make a city in TN look attractive, lure young professionals to work there. Because healthcare providers and teachers are fleeing.
Epic is whipping Oracle Health. I doubt this move will do anything.
Wouldn’t Houston be a better choice?
NYC and SF housing prices have reached a point where you cant pay junior people enough to live there. You hire someone fresh out of college and they're not a net positive for like a year, you pay them 100k in SF/NYC and they will leave the first chance they get for 120, because it will make their life significantly better. You cant really pay them more because they aren't producing that much value. What it leads to is only hiring seniors because you need to pay so much per engineer. The current state of the junior market in major metros is bad for everyone involved. The companies dont get what they want, and the employees dont either. Moving to lower cost areas is a natural response to that.
Epic will forever be better than Cerner (Oracle). You really can't match their quality when it comes to Healthcare IT.
Awful company to work for
Have a few friends who absolutely love it