You can debate how relevant HP is these days, yet there is at least symbolic value in one of the founding companies of Silicon Valley heading out. You may recall HP split into two companies, and this is the server and services side.
From WSJ:
HPE said it would see cost savings primarily because of cheaper real estate in Texas. Hiring is also generally cheaper and less competitive than in California....
Chief Executive Antonio Neri said the move was part of a reassessment of where and how HPE works, in part tied to the pandemic.
“We’ve listened to our team members, who have told us they want more to spend less time at a physical worksite,” he said. “And in response to this new future of work, we have reevaluated our real estate site strategy.”
The Bay Area would remain a strategic hub, and several sites in the area would be consolidated to its San Jose campus.
“Houston is also an attractive market for us to recruit and retain talent, and a great place to do business,” Mr. Neri said, adding that as one of the largest and most diverse cities in the country, “Houston provides the opportunity over time to draw more diverse talent into our ranks.” ...
HP Inc., the other successor company that sells computers and printers, is still based in Palo Alto....
San Jose Mayor Sam Liccardo, a Democrat, called HPE’s decision “a wake-up call.”
“The move of HPE’s headquarters demonstrates how our region’s high costs—including housing, taxes, and regulatory burdens—make it increasingly difficult for employers to justify hiring any but the most technologically advanced talent here,” said Mr. Liccardo. “We need to stop demonizing our tech employers, and start working with them to chart a path to a strong recovery.”
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