"L" stands for Larry.
The team is all the executives that report directly to CEO Larry Page.
In recent days, at least two executives got knocked off the L-Team, and at least one was added.
Andy Rubin, the Android boss, got the boot. So did Jeff Huber, who ran maps.
But it's not all demotions these days at Google.
An engineering SVP named Sridhar Ramaswamy made the team.
He's now responsible for all of the engineering that goes into ad products at Google.
Advertising is basically the way Google makes all of its money – and it makes a lot of money – so that's a big deal.
A couple years ago, Ramaswamy took a huge leap at Google after a well-funded startup, payments company Square, made a run at hiring him.
A Google spokesperson declined to comment on this post.
By the way …There's been a lot of movement at the highest levels of Google in the past couple days.
If you're an employee, we'd like to hear what you make of it all. Reach me at nicholas@businessinsider.com or 727 507 1699.