(Yicai) Oct. 17 -- Tencent Holdings will close down its time organization tool To-do in December in the Chinese social media giant’s latest move to divest unprofitable, sideline businesses.

To-do, which is available as a WeChat mini program and iOS app, will cease operations on Dec. 20, the Shenzhen-based firm said yesterday.

Tencent has shuttered over 10 marginal product lines, including its audio platform Penguin FM, game-oriented livestreamer Penguin Esports, online map service Sogou Map and video blog platform Vue Vlog, and pulled four games, such as Kritika and FreeStyle Street Basketball, since it embraced a strategy to optimize costs and enhance operational efficiency in 2022.

It is not worth putting too many resources in sideline businesses, given the costs and time involved, Chairman and Chief Executive Pony Ma is reported to have said at an employee conference in December last year.

The firm's educational division is also undergoing ‘business adjustments’ and its president Yin Yu, who is also a vice president at Tencent, reportedly left the company earlier this month.

Tencent Classroom will shift focus to corporate clients, such as schools and businesses, and gradually stop serving individual customers, Shi Mei, a senior executive at the educational division and vice president of Tencent Cloud, said last month.

Tencent Classroom might be the company’s last department that offers services to individuals and there will be more lay offs until it closes, a company insider told Yicai.

Tencent has shuttered over 40 marginal projects in the past year, including some projects by search engine developer Sogou, which it merged with in October 2021.

Editors: Shi Yi, Kim Taylor