As part of its shift towards artificial intelligence, Google has restructured its finance team, as announced in a memo by the CFO.

• According to an internal memo viewed by CNBC, Google's finance teams will undergo restructuring, which includes relocations and layoffs, as announced by Ruth Porat, the company's Chief Financial Officer.
• The cuts will affect some employees in the U.S. and abroad.
• The company will be using a "hub" model to locate finance teams, including in India and Mexico, as Porat also pointed out.

Ruth Porat, the Chief Financial Officer, announced in a memo on Wednesday that the company is restructuring its finance organization, which will result in layoffs and relocations, in order to allocate more resources towards investments in artificial intelligence.

"Al is driving a significant platform shift in the tech sector, according to Porat's memo to employees in finance. This presents an opportunity to create more beneficial products for billions of users and offer quicker solutions to customers. However, it also requires us to make challenging decisions, such as how and where we work to align with our top priorities."

Google is planning to make more job cuts in 2024 as part of a broader effort to allocate resources to new technologies such as AI, following a slowdown in advertising growth. Sundar Pichai, the CEO, informed employees in January that further cuts were likely, but did not specify which teams would be affected.

Porat stated that the restructuring of finance teams will impact those in the Asia-Pacific region, Europe, the Middle East, and Africa, as well as those domestically.

Porat stated that the company would establish "centers" for centralized operations in locations such as Bangalore, Mexico City, Dublin, Chicago, and Atlanta, while maintaining a substantial presence in the San Francisco Bay Area.

"Porat wrote about creating vibrant hubs of Fin'ooglers worldwide that have a strong culture, which will help the organization be more efficient and enable 24/7 operations while respecting Fin'ooglers' worktimes."

Fin'oogler is the company's term for a Google employee in finance.

We are saddened by the departure of some gifted colleagues and cherished friends, and we understand that this transition may be challenging.

"Google is investing in its company's top priorities and opportunities by making changes to improve efficiency and align resources to their biggest product priorities, according to a Google spokesperson."

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