Here's the The Lowdown from DNJournal.com! Updated daily to fill you in on the latest buzz going around the domain name industry!

Oversee.net, the parent company of three of the best-known brands in the domain industry,  DomainSponsor, Moniker and SnapNames, announced this afternoon that they are laying off 18% of their workforce, including some at the management level. The cuts come on the heels of a previous 10% workforce reduction last August.

Oversee's VP of Communications, Mason Cole, sent us the news in an email today writing "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."

Oversee also stages the DOMAINfest Global conference in Hollywood, California where the 2009 event will be held later this month (January 27-30). Several other industry companies have also been tightening their belts to ride out the current recession that is impacting businesses around the world.

(Posted Jan. 15, 2009) To refer others to the post above only you can use this URL:
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