Yahoo! is expected to lay off between 650 and 700 people today, or about 5 percent of its worldwide staff, AllThingsDigital reported yesterday.

The layoffs will come mostly from its product division, and will be mostly within the Internet company's U.S. division. A Yahoo employee in its Flickr group just tweeted this afternoon "All I got for Christmas from Yahoo is a pink slip. And hugs from Flickr. And a nice package. Adios, Y! Good luck on your downslide," TechCrunch reported. The tweet has since been deleted.

Image: TechCrunch