A sad reminder of the position of the global economy reared its head in January when Oversee.net, the parent company of DomainSponsor, Moniker, Snapnames and DomainFest, laid off 19% of its staff in a reorganization that was done to help prepare the company for 2009.

Oversee is not alone in reducing staff in wake of the economic crisis.  Other companies who have had to reduce positions include NameMedia and Tucows.

The lay-offs will not affect the company’s annual conference, DomainFest, which is currently in progress in California.  Modern Domainer will be providing full coverage of the event, including any updates should they occur.

News report compiled by Gregory Theriot