It has been confirmed, Oversee.net did lay lay off 10% of its staff last Friday and this via SocalTech.com article and in Ron Jackson's Lowdown report. According to Oversee.net, the layoffs are primarily a result of a bad economy and that “the cuts were in response to the general economic weakness and pressures in the industry.” Cuts were made across all divisions including SnapNames, DomainSponsor and Moniker.

Oversee.net is a privately held company that owns and operates major domain name services DomainSponsor.com, SnapNames.com and Moniker.com. Oversee bought SnapNames in May of 2007 and acquired Moniker in January of 2008.

Source:  August 19th, 2008 - Posted by Roland G. Buck - Chief Editor