According to Silicon Alley Insider, Yahoo (one of Google's biggest competitors) is pondering firing 1,500-2,500 people. More details:
http://www.alleyinsider.com/2008/01/tip-yahoo-layoff-list-created-15002500-cuts-possible.html

Gosh.. I didn't realize it involved so many folks! Sorry to hear, that is bad news.

yeah I made a post on that "Scary Times V2.0" :(-

TechCrunch has more:
http://www.techcrunch.com/2008/01/20/yahoo-to-cut-20-of-its-workforce/

it been confirmed by NYT -

"But the people close to the company, who discussed Yahoo’s layoff plans on condition that they not be identified, said the cuts would likely be in the “hundreds.”"

http://www.nytimes.com/2008/01/22/technology/22yahoo.html?_r=3&ex=1358658000&en=a9617f1f670b78a3&ei=5088&partner=rssnyt&emc=rss&oref=login&oref=login&oref=slogin