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01|15|2009 03:50 pm EDT

[Updated] Oversee.net layoffs

by Frank Michlick in Categories: News

Oversee.net, the parent company of DomainSponsor, Moniker, Snapnames and DomainFest has layed off another round of employees today. Rumor has it that about 15% 18% (39 people) of the current workforce were affected according to Mason Cole, Oversee.net VP of Communications.

On DomainNameWire Mason Cole stated:

Oversee is reorganizing its businesses because it expects a very difficult economic environment in 2009. As part of the reorganization, we have had an 18% reduction in force, including some managers.

Oversee will focus over the next year in the areas where it has a leadership position. Going forward, areas of focus include: Domain name monetization, Domain name aftermarket, Registrar, and Travel.

Accordingly, we’ve discontinued activity or investment in areas that aren’t as promising (mortgage, for example). The reduction is a result of the refocusing on key areas.

In August of 2008 Oversee.net had layed off 10% of their staff.

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6 Comments

newlyunemployed

January 15, 2009 @ 4:22 pm EDT

its actually 60 employees, so its around 30% of the workforce. They are down to 120 employees now. Its a sinking ship..

Mason Cole

January 15, 2009 @ 4:41 pm EDT

The fact (not “rumor has it”) is it’s 18% of the workforce.

Frank Michlick

January 15, 2009 @ 5:18 pm EDT

@Mason: When we wrote that part, there was no official statement available, thanks for providing some of the details.

You're Wrong

January 16, 2009 @ 5:36 pm EDT

It was NOT 60 employees. It was 40 between 3 offices. Why would you so grossly exaggerate and lie? And they gave very respectable severance packages.

DS customer

January 20, 2009 @ 3:55 pm EDT

“It was NOT 60 employees. It was 40 between 3 offices.”

What about part-time workers?
Did they let any of them go?

It would be logical to have a number of part-time employees (college students, mom’s with young kids, etc).

Laid Off

January 27, 2009 @ 7:43 pm EDT

As one of the employees that got laid off, I must commend Oversee for giving a pretty good severance.

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