The New York Times is reporting that Yahoo is looking at layoffs for hundreds of there employees, siting falling stock prices and some failed initiatives over the last few years.

The exact number of employees to be let go are still being determined but early blog reports that an expected 10 to 20 percent could be cut.

The TechCrunch is also reporting this although with slightly different numbers, and is hinting at the process already starting with the layoffs of 30 people in the Yahoo Answers program.

Stay tuned for more news on this topic.