Domain registrar feels bite of sinking economy.
After growing last year, the company started to cut back on costs in October. But the cuts were not enough. Name.com cites razor small margins on domain names and intense competition, along with the faltering economy, for its woes.
Name.com says customers need not worry; these cuts will enable the company to continue for the long haul:
We’re confident that we’ve done the right thing for the health of the company but we’re sad to see members of our family off on their own during this tough economic time. As we move into what is likely to be one of the hardest economic periods our company is likely to encounter we’re hopeful for the future while we keep a keen eye on the bottom line.
We’re not going anywhere. We’re in it for the long haul, but we’re all about letting you know what’s happening behind the orange facade of Name.com.
Name.com is the 27th largest ICANN-accredited registrar, according to RegistrarStats.com. It has about 575,000 domain names under management.
Another domain registrar that has recently cut staff is Tucows (AMEX: TCX)