Name: Hewlett Packard Headquarters Leaves California
Uploaded: 2020-12-03T19:19:12.000Z
Description: Hewlett Packard Enterprises is making Texas its new home. It's currently making a new state-of-the-art headquarters in Houston.

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Hewlett Packard Enterprises is making Texas its new home. It's currently making a new state-of-the-art headquarters in Houston.

Texas offers cheaper real estate which would save the company money and the recruitment market is also less competitive.

It says there will be no job losses as part of the move and that it will keep its San Jose campus.

Texas Governor Greg Abbott celebrated the news. He wrote on Twitter, "Welcome to Texas - Jobs, Jobs, Jobs."

Abbott has been pro-actively trying to bring businesses to Texas.

Hewlett Packard, now known as HPE, was formed in a Palo Alto garage in 1939. That garage is a now historic landmark that has a plaque on it saying "Birthplace of Silicon Valley."

Charles King, president of Pund-IT Inc, told the Wall Street Journal, “It’s a sad day for Silicon Valley and hopefully a bright day for HPE and its shareholders.” “[HPE] is a company that needs to seek cost savings wherever it can find them.”

Its fiscal fourth-quarter net income was 157 million dollars.

Its shares are down 29 percent since the beginning of the year.

Dropbox may soon announce a move to Texas as well.

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