With the state of the economy what it is right now, many people are stressed about job security. Whether you work at a billion dollar company or run your own business, it’s likely you’ve thought about the possibility you might be let go or find yourself out of work at least once.

Yahoo! ended 2008 the same way it ended 2007, with layoffs. The search company let go 1,500 people and apparently more staff can expect pink slips early in 2009. Now it looks like the company that was so keen to buy Yahoo! at the beginning of this year could be next in line with an announcement about staff reductions.

Mini-Microsoft is currently speculating about substantial layoffs at the Redmond company, which the site reports we’ll see on January 15, just one week before the company announces its earnings for FY09Q2. While it’s all speculation based on what one person has heard next to the watercooler we can’t help but feel the “There’s no smoke without fire” vibes coming from this one.

Check out Mini-Microsoft for the full story. We’ll keep an ear to the ground and report back when we know more.