Yahoo!'s Holiday Gift - Cuts As Many As 650 Jobs

Yahoo! is reported to have laid off "about 650" people this morning -- about 5% of the company's entire workforce of 14,000 -- according to reports -- estimates were that between 650 and 700 people will be let go before the end of the day.According to Kara Swisher of All Things Digital, the layoffs are […]

Yahoo! is reported to have laid off "about 650" people this morning -- about 5% of the company's entire workforce of 14,000 -- according to reports -- estimates were that between 650 and 700 people will be let go before the end of the day.

According to Kara Swisher of All Things Digital, the layoffs are mainly coming from the U.S. and Yahoo's product division, headed by Blake Irving. Early reports indicate that Flickr is one area today that has been hit.

Silicon Alley Insider, presented live updates, here're a few of the early comments for the sad day in Sunnyvale, California:

"Two of my co-workers just got pulled in and got the ax in our small team. More may be coming... unable to work really. He's packing and must be out of here soon. Sad is that immediate manager didn't deliver the news, but his manager. Methinks immediate manager has no balls!!!"

A Yahoo! spokesperson confirmed staff reductions to TechCrunch:

Today's personnel changes are part of our ongoing strategy to best position Yahoo! for revenue growth and margin expansion and to support our strategy to deliver differentiated products to the marketplace. We'll continue to hire on a global basis to support our key priorities.

Yahoo! is grateful for the important contributions made by the employees affected by this reduction. We're offering severance packages and outplacement services to these employees.

[Source: 1, 2]