tobycoke
Nov 16th 2008, 4:30 pm
Wake up people...
http://domainnamewire.com/2008/11/11/tucows-lays-off-15-of-staff/
Domain registrar Tucows (AMEX: TCX) announced today that it is laying off approximately 15% of its staff.
Yesterday Tucows announced earnings with a small loss for the third quarter. [Update: Tucows stock down 32% today].
…We decided to take this step because of the uncertainty of overall economic conditions and the fact that our performance has been impacted by a number of unanticipated challenges during the first nine months of the year, including advertising revenues being dampened by the weakness in the economy and by reduced payouts to the domain channel by Google and Yahoo, which is in turn impacting domain portfolio advertising revenues and especially bulk domain portfolio sales.
I have also never seen a macro economic environment like we are seeing now. I am old enough to have lived through a number of down cycles but there are elements of this one that make it unique and that will take time to work through.
http://domainnamewire.com/2008/11/11/tucows-lays-off-15-of-staff/
Domain registrar Tucows (AMEX: TCX) announced today that it is laying off approximately 15% of its staff.
Yesterday Tucows announced earnings with a small loss for the third quarter. [Update: Tucows stock down 32% today].
…We decided to take this step because of the uncertainty of overall economic conditions and the fact that our performance has been impacted by a number of unanticipated challenges during the first nine months of the year, including advertising revenues being dampened by the weakness in the economy and by reduced payouts to the domain channel by Google and Yahoo, which is in turn impacting domain portfolio advertising revenues and especially bulk domain portfolio sales.
I have also never seen a macro economic environment like we are seeing now. I am old enough to have lived through a number of down cycles but there are elements of this one that make it unique and that will take time to work through.