At least 1,000 Yahoo employees may be let go as part of a continued downsizing at the struggling company.

The layoffs, which are expected to begin this week, will mark the second time this year that Yahoo has shed its workforce.

While Yahoo's problems are well documented, the layoffs come amid a worsening global economic outlook.

Big media giant NBC Universal is said to be considering slashing its budget by $500 million, which would mean a 3 percent overall drop.

Meanwhile, Zillow, a Silicon Valley startup that helps people buy and sell homes online, will cut 25 percent of its workforce.

But for all the grim news, Google, which many see as the barometer for digital, is reportedly weathering the current financial crisis quite well.