
Yahoo to Shutter Certain Web Properties
NEW YORK (
) --
Yahoo
(YHOO)
confirmed plans to shut down a number of its Web properties on Thursday.
"Part of our organizational streamlining involves cutting our investment in underperforming or off-strategy products to put better focus on our core strengths and fund new innovation in the next year and beyond," the company said in an emailed statement on Thursday.
"We continuously evaluate and prioritize our portfolio of products and services, and do plan to shut down some products in the coming months such as Yahoo! Buzz, our Traffic APIs, and others," the statement continues.
The statement follows numerous media reports about Yahoo's intentions that were apparently based on a slide from a company presentation that was posted on
earlier in the day. According to the
Wall Street Journal
report,
include MyBlogLog, Yahoo! Picks, AltaVista, Yahoo! Bookmarks, Yahoo! Buzz and the bookmarking site Delicious.
Yahoo didn't provide more detail about what properties are to be eliminated in its statement, saying: "We will communicate specific plans when appropriate," and noted that it's still investing in "areas of strategic focus such as local, mobile and communications, among others."
The actual picture of the slide
has since been removed.
News of the restructuring comes after the Sunnyvale, Calif.-based company confirmed plans to lay off roughly 600 employees earlier this week.
Shares of Yahoo closed Thursday up 6 cents at $16.51. Year-to-date, the stock has fallen 2%.
--
Written by Michael Baron in New York.
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