• Reduction in locally produced platforms and associated teams
Today Yahoo7 announced a decision to introduce changes to its operations.
Without any specifics regarding the number of people let go, a statement said: “Following a strategic review with its shareholders Oath (Yahoo and AOL) and Seven West Media (SWM), Yahoo7 needs to make changes to its structure that will carry the company into the future.
“Most significantly, Yahoo7 is planning on making greater use of the Oath technology capabilities.”
Yahoo7 indicated premium consumer brands like Yahoo7 Be, 7News, Yahoo7 Finance, Mail and 7Sport will continue as before.
“The local brands will remain unaffected by this shift in the back-end tech platforms. Yahoo7’s mission is to be the Australian media leader in data, content and tech and this move will help them maintain that leadership in an increasingly competitive and challenging market.”
Yahoo7 flagged there would be a reduction in locally produced bespoke platforms, and potentially across the associated teams. Smaller changes are also planned across the rest of the organisation. Yahoo7 was not prepared to offer any further detail at this stage.
Yahoo7 CEO Ed Harrison said, “Yahoo7 will focus resources on local content creation and monetisation. Our editorial team will continue to deliver premium, unique and engaging content in the news, sport and lifestyle verticals.
“Making changes is always difficult, especially involving our talented people, but ultimately this will ensure Yahoo7’s continuing success.”
That last comment is a reference to people who are leaving the business, but there is no further detail available from the organisation.