Oversee Lays Off 10% of Staff -Company VP Explains Move to DN Journal

[Duke]

Oversee.net, parent company of DomainSponsor, SnapNames and Moniker, announced a 10% reduction in its workforce due to declining conditions in the general economy. Oversee VP Mason Cole commented on the layoffs at DNJournal.com:

http://www.dnjournal.com/archive/lowdown/2008/dailyposts/08-18-08.htm

 

[Theo]

Gotta love mergers and acquisitions (I've been through several of them in corporate America)

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.

 

[BELLC1]

I hope it included their auctioneer.

 

[Rockefeller]

shame

 

[Theo]

Maybe they will get hired by Bido

 

[GAMEFINEST]

Too many bonuses?

 

[Sonny Banks]

Now they can send auctioneers in Georgia :lol:

 

[draggar]

Gotta love mergers and acquisitions (I've been through several of them in corporate America)

Interesting when they do their layoffs they do it in such a way they have to lay off the most number of peolple. Like in my company, they'd rather keep one VP with no one under them than staff 20 sales reps.

 

[David G]

Gotta love mergers and acquisitions (I've been through several of them in corporate America)

Upper management is where most of the expense and lack of employee hard work contribution is, certainly not among mid-management and staff. Why is it companies fail to realize that is where their best cost cutting would be

 

[Biggie]

Oversee.net, parent company of DomainSponsor, SnapNames and Moniker, announced a 10% reduction in its workforce due to declining conditions in the general economy. Oversee VP Mason Cole commented on the layoffs at DNJournal.com:

http://www.dnjournal.com/archive/lowdown/2008/dailyposts/08-18-08.htm

unless those who got laid-off never worked in corporate before, then they should have seen the writing on the wall.

such a merger had too many overlaping positions and areas of responsibility.

their "economy" as they put it, is the domain community...which has been thriving.

their statement is bs imo.

just say "some of yawl got to go"

 

[BELLC1]

Maybe they only let go anyone over 40 since they are the most expensive and have more medical problems ...

 

[David G]

In addition to duplicate staff positions I imagine another reason for Domain Sponsors woes is related to what Fabulous.com recently discussed in the sharp rev declines they have experienced overall for various reasons, including the ability for advertisers to opt-out of the content network, or perhaps pay much less for content clicks vs search network (which I believe many advertisers are in fact doing big time).

Still another likely reason is tough competition from newer firms (i.e. parked.com in particular) who I am sure took away a good percentage of the DS business. One more reason I can think of is the relatively inferior and plain looking DS pages which don't even compare to parked.com and fabulous.com templates.

 

[EM @MAJ.com]

wow even in domain business layoff exist, who said domain business is full proof in recession?

 

[Biggie]

wow even in domain business layoff exist, who said domain business is full proof in recession?

it is "full proof" and has been so far

have you not noticed the rising prices on the aftermarket, the sell-out of 4 letter and 4 number .com

the auctioning of new extensions .mobi .asia .me

and all of the "biggest sale so far" sales, which have been reported on dnjournal

there is no slowdown in the buying and selling of domains, at least not from my viewpoint.

ppc's are making nice sums of money

the layoff is to make the bottom line look nicer.

 

[David G]

...ppc's are making nice sums of money. the layoff is to make the bottom line look nicer.

Must disagree, I believe many domainers are complaining about declining ppc with many reporting 50% or more declines in the past year or so, inlcuding some of the biggest.

I am sure there is a lot more substance then only making bottom line look nicer Don.

 

[Theo]

Maybe they only let go anyone over 40 since they are the most expensive and have more medical problems ...

Or the under 25-yo because they are the least experienced and can't focus on future goals after a night of partying?