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Layoffs at Yahoo already in progress, say insiders

Layoffs will be happening between Thanksgiving and Christmas

Although Yahoo has denied media reports about 20 per cent layoffs in the company earlier this month, insiders have confirmed that the layoffs are already underway at the search company, TechCrunch reported on Tuesday.

Last week, a Yahoo insider tipped off the technology news site that layoffs would be officially happening after Thanksgiving and before Christmas. However, the process has reportedly begun in Yahoo's photo-sharing site Flickr and its online discussion boards called Yahoo Groups this week.

"My team was just reduced by 22%. Yahoo management are fools. How do they expect us to meet our 2011 goals now," a Yahoo employee was reported as saying by TechCrunch.

Yahoo, however, has dismissed the news about the layoffs saying, "The company is always evaluating expenses to align with financial goals. Beyond that, we don't comment on rumours or speculation."