01|15|2009 3:50 pm EDT
[Updated] Oversee.net layoffs
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.