Bert and Ernie Get Laid-Off

It's a bad day in the neighborhood:

March 11 (Bloomberg) -- Sesame Workshop, the nonprofit organization that produces “Sesame Street,” is cutting 20 percent of its workforce because of the recession.

“After careful review, we have concluded that we will have to operate with fewer resources in order to achieve our strategic priorities,” New York-based Sesame Workshop said today in an e-mailed statement. The company said it eliminated 67 of 355 staff positions.

Big Bird has reportedly taken a new job as a minor league baseball team mascot in Albuquerque.