Google restructures finance team as part of AI shift, CFO tells employees in memo

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.

Alphabet Inc Google Breaking News: Technology Technology Alphabet Class C Ruth Porat Labor Economy Personnel Business News

United States Latest News, United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

West African Minerals Announces Filing of Annual Financial Statements and Resignation of CFOWest African Minerals has filed its audited consolidated financial statements, management's discussion and analysis, and Annual Information Form for the year ended December 31, 2023. The company has also expanded its high-grade silver-zinc-lead discovery and completed a geophysical survey for potential drill targets. Additionally, the CFO, Mr. Alex Tong, will be resigning from his part-time role effective June 30, 2024.
Source: mining - 🏆 449. / 53 Read more »

Google restructures finance team as a part of AI shift, CFO tells employees in memoGoogle CFO Ruth Porat wrote to employees that the finance teams would be restructured, a move that will include relocations and layoffs.
Source: NBCDFW - 🏆 288. / 63 Read more »

DraftKings Shuffles Leadership, Names New CFOSportsbook operator appoints Jason Park as chief transformation officer, elevates Alan Ellingson to CFO.
Source: Covers - 🏆 341. / 59 Read more »

Aurora Financial Empowerment Center Helps Individuals Overcome Financial HardshipsThe Aurora Financial Empowerment Center in Aurora, Illinois offers workshops and counseling services to help individuals improve their financial literacy and overcome financial difficulties. The center provides guidance on debt management and offers support to those considering bankruptcy as a last resort.
Source: chicagotribune - 🏆 8. / 91 Read more »

Financial literacy program helps teens learn budgeting, financial decision-makingHosted by local bank First Credit Union at Chandler Community College’s Pecos Campus, the ‘Mad City Money’ program empowers teens with financial education.
Source: 12News - 🏆 586. / 51 Read more »

Appointment of Alexander Martin as Chief Financial Officer and DirectorMr. Alexander Martin has been appointed as the Chief Financial Officer and a director of the Company, replacing Lord Timothy Razzle. With over 33 years of experience as a Chartered Accountant, Mr. Martin brings a wealth of expertise to the role.
Source: mining - 🏆 449. / 53 Read more »