Yahoo! Will Lay Off Five Percent of Its Workforce Before the Holidays

Yahoo! downsized five percent of its workforce today, amidst rumors of a possible takeover by AOL. Terry McSweeny, of ABC’s San Francisco news affiliate, says Yahoo! told him this morning between 600 and 700 people would be let go–only little more than a week before the holiday season begins. Ouch.

Seems like the layoffs have already begun.

TechCrunch caught this tweet from a recently downsized member of Yahoo!’s Flickr group.

The tweet was removed only minutes later.