For weeks now, the rumor has been that Microsoft would announce significant layoffs on Jan. 15 -- the logic being that it wants to get the news out of the way prior to next week's earnings report. So the big day is almost upon us. One way or another, we'll get a reality check on those rumors tomorrow.

Of course, no news isn't necessarily good news for Microsoft employees. Layoffs could just as easily happen another day, if they are in the works. The rumors are continuing to fly, but for the record, I checked again today, and the company still isn't saying anything officially.

The Wall Street Journal reported today that the company is considering job cuts, but noted that the plans "are still in flux and Microsoft could end up finding alternative methods of reining in costs." The paper said an announcement could come next week.

My bet is that any cutback, if it happens, will hit Microsoft's contract work force hardest. Already there have been reports of contracts not being renewed. It makes sense in part because the numbers of contract workers aren't publicly reported, so the cuts could be made largely under the radar.

Google has taken a similar approach, and today the search company went a step further by announcing that it's cutting 100 recruiting positions -- an ominous sign for the company's future hiring plans. As we've noted in the past, Google started getting more cautious about its hiring months before Microsoft put its own brakes on.

Stay tuned for any news tomorrow, if it happens. We'll be continuing to dig into this. Anonymous tips welcome. Email us here if you hear anything concrete: techflashtips@bizjournals.com.