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After shutting down Yahoo Games, Smart TV and Yahoo Screen, the troubled internet company is burying seven digital magazines as a part of an ongoing restructuring and transformation. The move will lead to an unspecified number of job losses.
"To that end, today we will begin phasing out the following digital magazines: Yahoo Food, Yahoo Health, Yahoo Parenting, Yahoo Makers, Yahoo Travel, Yahoo Autos and Yahoo Real Estate," Martha Nelson, Yahoo's global editor-in-chief, wrote in a blog post on Tumblr, which Yahoo bought in 2013. All the digital sites were launched in 2014.
"As we make these changes, we acknowledge the talent and dedication of an extraordinary group of journalists who brought new and newsworthy content to Yahoo. While these digital magazines will no longer be published, you will continue to find the topics they covered, as well as style, celebrity, entertainment, politics, tech and much more across our network," she added.
The closures will lead to another round of layoffs, in line with company's plan to reduce its workforce by 15%. Yahoo seeks to reduce its staff to about 42% of 2012 levels. "By the end of 2016, the company anticipates approximately 9,000 employees and fewer than 1,000 contractors," said Yahoo CEO Marissa Mayer in a statement.
Yahoo Tech is expected to be the next target as Dan Tynan, who joined Yahoo in 2013 as chief technology editor, announced his exit. In a letter to staff announcing his departure, he wrote, "Eight hundred and four days after taking the purple, my career as a Yahoo is over." The letter's contents were leaked by the news website Politico.
Early this month, after announcing quarterly results, Mayer announced a plan to embark on a transformation journey to return to "modest and accelerating" growth in 2017 and 2018. According to this plan, the internet portal planned an exit from legacy products including Games and Smart TV and Yahoo Screen, and simplified its product portfolio to only three platforms – Search, Mail, and Tumblr – focusing on news, sports, finance and lifestyle.
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