New Yahoo chief to axe 'non-core' products


New Yahoo chief to axe 'non-core' products

Warwick Ashford

Yahoo's CEO Scott Thompson has confirmed plans to shut down dozens of products that are not seen as core business in a bid to turn around the firm's fortunes.

Thompson's predecessor Carol Bartz was sacked by the board after she failed to return Yahoo to profitability within two years.

Thompson, who joined Yahoo in January, told analysts he planned to go back to basics, which will mean "shutting down or transitioning roughly 50 properties that don't contribute meaningfully to engagement of revenue".

He did not identify which units would be abandoned, but said that news, finance, sports, entertainment and mail would not be axed, according to the BBC.

Thompson said Yahoo also plans to make its services more personal. For example, he said a Boston Red Sox fan visiting Yahoo Sports want to see only relevant content. "We ought to be able to do much, much more of that than we've done to this point," he said.

Thompson said personal preferences data would also be used to help advertisers understand how visitors used the site and to request "almost real-time" analytics data.

Earlier this month, Thompson announced plans to reorganise the beleaguered company into three divisions.

From 1 May, Yahoo will operate in three groups – consumer, regions and technology – in an attempt to organise the company's activities around its customers.

Thompson said the restructure was an important step towards a bold, new Yahoo; smaller, nimbler, more profitable and better equipped to innovate as fast as the market required.

News of the restructure came just days after Thompson said Yahoo would be forced to cut 2,000 jobs to save $375m.

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