Google Panda demotes or adjusts your rankings down — it does not devalue

In part two of our interview with Gary Illyes of Google, Gary told us that the Google Panda algorithm demotes, or adjusts a site’s ranking down; it does not devalue or ignore the spam, like Penguin 4.0 does.
Gary told us in the interview, when we asked about Panda devaluing versus demoting, “[S]o essentially, if you want a blunt answer, it will not devalue, it will actually demote.”
As you may remember, Penguin 4.0 now devalues links by ignoring them, as opposed to demoting or penalizing the links. But that is not how Panda works. Gary said “… it is an adjustment. Basically, we figured that site is trying to game our systems, and unfortunately, successfully. So we will adjust the rank. We will push the site back just to make sure that it’s not working anymore.
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