Google Chief Financial Officer Ruth Porat told the company's finance teams that their groups would see restructuring, including relocations and layoffs, according to an internal memo viewed by CNBC.Porat also noted the company will be using a "hub" model to locate finance teams, including in India and Mexico.is restructuring its finance organization, a move that will include layoffs and relocations, as the company pushes resources to favor investments in artificial intelligence.
The latest cuts follow a broader effort by Google to rearrange its workforce and resources to accommodate further investment in new technologies like AI as advertising growth slows. CEO Sundar Pichaiin January that more job cuts were likely coming in 2024, though he didn't specify which teams would be affected.
Porat also wrote that the company would create "hubs" for more centralized operations including in Bangalore, Mexico City, Dublin, Chicago and Atlanta. The company plans to maintain a significant presence in the San Francisco Bay Area, she noted.
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