YouTube is getting rid of its video editor and Photo slideshows

Yesterday google's community manager made an announcement that the Video Editor (youtube.com/editor) and Photo slideshows will go away on September 20th, 2017. They’ve seen limited usage of these features, so they are retiring them to focus their efforts on building new tools and improving on other existing features. 
You’ll have two months to finalize any video projects before they turn off the features completely. After that you will no longer have access to projects in the Video Editor, but any videos already published with the Video Editor will not be affected. 

They are keeping the Enhancements feature in Video Manager. With Enhancements, you can continue to enhance your uploaded videos with edits such as trimming, blurring and filters. Other things that are NOT going away:
  • Trimming
  • Blurring
  • Audio Library
  • Filters
  • End Screens
  • Cards
  • Subtitles
  • Sound effects
  • Quick fixes (stabilize, contrast, slow motion, saturation, etc) 
What IS going away on September 20, 2017:
  • The tool specifically at the destination youtube.com/editor (raw video clip editing)
  • The Photo slideshow tool
You can download your own videos from YouTube in 720p or use Google Takeout to retrieve your original files, in case you are looking to remix your uploaded videos into a new video. 

There are also many free and paid third-party editing tools available if you’re looking for new editing software.