In a recent internal memo viewed by CNBC, Google's Chief Financial Officer, Ruth Porat, revealed plans for a major restructuring within the company's finance organization. The restructuring will involve layoffs and relocations as Google shifts its resources towards investments in artificial intelligence (AI).

Porat emphasized that the tech sector is currently undergoing a significant platform shift with AI at its core. She stated that this presents Google with the opportunity to develop more helpful products for billions of users and provide faster solutions to its customers. However, making tough decisions regarding workforce and work locations is necessary to align with the company's highest priority areas.

The move comes as part of Google's broader effort to reorganize its workforce and allocate resources in response to slower advertising growth. CEO Sundar Pichai had previously indicated in January that more job cuts were expected in 2024, without specifying the affected teams.

The restructuring will impact finance teams both in the United States and internationally, including the Asia-Pacific region, Europe, the Middle East, and Africa. Notably, Google plans to establish centralized operations hubs in Bangalore, Mexico City, Dublin, Chicago, and Atlanta. However, the company intends to maintain a significant presence in the San Francisco Bay Area.

Porat underscored the importance of creating vibrant hubs of finance professionals worldwide, fostering strong cultures within these locations. This strategy aims to enhance efficiency and enable Google's finance team, also known as "Fin'ooglers," to work around the clock while respecting their respective worktimes.

While acknowledging the difficulty of these changes and bidding farewell to talented colleagues, Porat emphasized that the restructuring would help position Google for significant opportunities ahead.

In response to queries, a Google spokesperson confirmed the company's responsible investments in its top priorities and the vast opportunities on the horizon. These adjustments, implemented in the latter half of 2023 and continuing into 2024, ensure enhanced efficiency, streamlined processes, and resource alignment with Google's key product objectives.

As Google proceeds with its finance restructuring, the company remains focused on monetizing AI across various aspects of its operations, as highlighted by Google Cloud's CEO.

It remains to be seen how these changes will impact Google's finance division and the company's overall trajectory.