Google Announces Cuts in Finance and Real Estate Units, Shifts Growth Hubs Overseas: Inside the Company’s Efficient Restructuring Efforts

Google has recently announced cuts that have affected several teams within its finance and real estate units, according to two current employees. One of the impacted teams in finance includes Google’s Treasury, Business Services, and Revenue Cash Operations teams. It is unclear if other parts of the company have also been affected or how many roles have been cut. Some roles are being relocated abroad as part of the restructuring.

Google’s finance chief, Ruth Porat, has sent an email to staff announcing plans to build out “growth hubs” in locations like Bangalore, Mexico City, and Dublin. The restructuring is part of Google’s effort to become more efficient and align resources with its biggest product priorities. A small percentage of roles will be relocated to other offices in the US and abroad, including India, Dublin, and Atlanta.

A Google spokesperson has confirmed the cuts but did not disclose the exact number of affected staff. They mentioned that impacted employees can apply for open roles within Google as the company invests in its biggest priorities and opportunities. The spokesperson stated that the restructuring aims to simplify structures, remove layers, and give employees the opportunity to work on innovative projects.

Google has been undergoing staff cuts and company reorganization throughout 2023 to reduce costs and accelerate progress in key areas like AI. CEO Sundar Pichai previously warned employees that cuts would continue throughout the year, although not every team would be affected. Alphabet’s other companies, such as Verily, have also reduced headcount in response to market shifts. If you are a current or former Google employee with insights to share