In a memo circulated on Wednesday, Chief Financial Officer Ruth Porat unveiled Google’s plans to restructure its finance organization, signaling a strategic shift towards prioritizing investments in artificial intelligence (AI). The restructuring, which encompasses layoffs and relocations, reflects the company’s commitment to adapting to the evolving landscape of the tech sector.
Porat emphasized the significance of the ongoing platform shift with AI, underscoring the company’s mission to develop more helpful products and deliver faster solutions to customers. However, she acknowledged the necessity for tough decisions, including realigning the workforce and operations with the highest priority areas.
This move follows Google’s broader initiative to reallocate resources and streamline its workforce in response to the slowdown in advertising growth. CEO Sundar Pichai had hinted at the likelihood of further job cuts in 2024 during an address to employees in January without specifying the affected teams.
The restructuring will impact finance teams both domestically and internationally, spanning regions such as the Asia-Pacific, Europe, the Middle East, and Africa. Porat outlined plans to establish “hubs” for centralized operations in cities like Bangalore, Mexico City, Dublin, Chicago, and Atlanta while maintaining a significant presence in the San Francisco Bay Area.
Acknowledging the challenges posed by these changes, Porat expressed gratitude to departing colleagues and underscored the company’s commitment to responsible investment and seizing significant opportunities on the horizon. Highlighting the company’s focus on fostering a vibrant culture, Porat emphasized the creation of Fin’oogler hubs worldwide, enabling round-the-clock operations while respecting employees’ work schedules.
A Google spokesperson reiterated the company’s commitment to strategic investments and operational efficiency, citing ongoing efforts to realign resources with product priorities and position the company for future growth.
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