One of the world's top domain companies, Oversee.net, laid off approximatley 10% of their workforce Friday, with the cuts evenly distributed across their DomainSponsor, SnapNames 

Mason Cole, Oversee.net
VP of Corporate Communications

and Moniker divisions. I spoke with Oversee's Vice President of Corporate Communications, Mason Cole, about the layoffs this afternoon. "Everyone is being impacted by the weakness in the economy and even though Oversee is a  very sound company we have to behave responsibly and make necessary corrections until the economy rights itself and starts growing again," Cole said.

One key point Cole added was that Oversee has not changed any of their plans for the balance of 2008. "None of Oversee's products, services or partnerships will be affected - Moniker will stage all of the live auctions they have scheduled, Domainfest Global will have another great conference in January and everything else we have planned will go forward." Cole said. 

In our March 2008 Cover Story on Oversee 

co-founder and CEO Lawrence Ng, Ng said the company had about 200 employees at the end of 2007. The acquisition of Moniker.com that was announced in January added a few dozen to that figure so the 10% cut across the board likely affected 25-30 employees. No one from upper management was laid off at any of the Oversee divisions. The realignment was made at the middle management and staff level. 

Cole said that the economic downturn had affected all of Oversee's divisions uniformly -  no single part of the business was under performing - it was simply a matter of the economy affecting business activity overall.
(Posted August 18, 2008)