SB Nation's Behind The Steel Curtain called it the "most appropriate way to end his often frustrating time in Pittsburgh."
The "waived/injured" designation means that a player is subject to waivers and if no team claims him he'll return to the Steelers on IR. It's also possible they could work out an injury settlement.
Sweed hasn't played for the Steelers after they put him on the reserve/non-football injury list in December of 2009. Following that, he suffered an Achilles injury which ended his 2010 season. He has just nine career catches with the Steelers and hasn't recorded a catch since Sept. 27, 2009 so he clearly wasn't in their plans.
Considering the Steelers went to the Super Bowl last year without him, I think they'll be fine without their 2008 second round pick.
Check out Behind The Steel Curtain to see what our Steelers community says about the move .