Yahoo Layoffs Begin

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As expected, Yahoo Inc began carrying out lay-offs up to 1,000 employees on Tuesday, as part of job cutbacks announced last month, several employees at the company's headquarters said on Tuesday.

A spokeswoman for Yahoo, which is seeking to fend off an unsolicited takeover bid by Microsoft Corp , declined to comment on the cutbacks beyond the general outlines Yahoo executives provided in an investor conference call last month.

One Yahoo engineering manager who was having to fire staff himself said the cuts were spread across a variety of divisions. They are performance-based rather than part of a plan to shut-down whole operations, said the source, who declined to be named. He gave no further details.

Read the whole story at Reuters Via ABC News