Yahoo Shedding Products Amidst Financial Storm
Yahoo is getting rid of products that do not fit the Internet pioneer’s efforts to re-invent itself.
“Part of our organizational streamlining involves shifting our investment with off-strategy products to put better focus on our core strengths and fund new innovation in the next year and beyond,” Yahoo! said Friday in response to an AFP inquiry.
The company’s MyBlogLog, Yahoo! Picks, Yahoo! Bookmarks, Yahoo! Buzz and search service AltaVista are some of its properties being shedding.
“We’re actively thinking about the future of Delicious and we believe there is a home outside the company that would make more sense for the service, our users and our shareholders,” Yahoo! said.
A message on the Delicious blog assured users that the social Website’s bookmarking service was not being shut down.
Yahoo said that it was making decisions based on which products had promise and which were under-performing.
The Sunnyvale, California-based firm announced on Tuesday that it would cut about 600 jobs, about four percent of its global workforce, as it tried to regain momentum on an Internet dominated by Google and Facebook services.
It was the third round of layoffs since the fall of 2008 and the second since Carol Bartz took over as chief executive in January 2009.
Microsoft and Yahoo reached an agreement after Bartz took command that calls for the U.S. software giant to power searches on all of Yahoo’s websites.
Bartz said that Yahoo has “disposed of non-core assets” while making strategic acquisitions and cultivating partnerships with sites like Facebook, Twitter and Zynga.
On the Net: