With so many people from all walks of life losing their homes these days, it seems that no neighborhood is immune to the credit crunch; from the row houses of Chicago to the gated estates of Palm Beach, foreclosure signs are popping up everywhere. Things are so bad that even make-believe neighborhoods are starting to feel the pain of our shrinking economy. And now it seems that Sesame Workshop, the producers of Sesame Street and other children's programming, will be cutting 20 percent of their staff.

Sesame Workshop, which was founded in 1968 as Children's Television Workshop, issued a statement announcing the layoffs and placing the blame squarely on the economy. Acknowledging that it is "not immune to the unprecedented challenges of today's economic environment," the company revealed plans to lay off 67 of their 355 workers.

In addition to receiving funds from government agencies, foundations and corporations, the non-profit Sesame Workshop makes money through product licensing and the sale of programming to PBS and syndication. While they did not have a revenue shortfall in 2008, the layoffs would seem to indicate that they are expecting one in 2009. Maybe we should all go out and purchase an Elmo doll for the cause.

But what does all this mean for the beloved residents of Sesame Street? For now, it seems that they are all going to be okay. Big Bird may have lost his nest egg, but he's not losing his nest. Oscar isn't getting canned and Kermit is still in the green. Bert and Ernie may have to put off upgrading to a two-bedroom apartment, but at least they still have a roof over their heads.

Let's hope the same can be said for those 67 employees who are being kicked off the block.