Recession Forcing Layoffs At Sesame Workshop - CBS News 8 - San Diego, CA News Station - KFMB Channel 8

Recession Forcing Layoffs At Sesame Workshop

Posted: Updated:
The crisis on Wall Street is plaguing Sesame Street.

Sesame Workshop, the nonprofit producer of "Sesame Street" and other kids' programs, is cutting about one-fifth of its work force because of the economic downturn.

The New York-based company said Wednesday that it's eliminating 67 of 355 staff positions.

Declaring it is "not immune to the unprecedented challenges of today's economic environment," the company pronounced a need "to operate with fewer resources in order to achieve our strategic priorities."

The statement reiterated the organization's mission "of helping children reach their highest potential here and around the globe."

Best known as the home of such Muppet characters as Big Bird and Elmo, Sesame Workshop was founded in 1968 as Children's Television Workshop, then unveiled the groundbreaking "Sesame Street" as a literacy-building initiative a year later. That show, which remains a worldwide hit, was the first step toward a media empire that encompasses television, books, toys and online programing.

Among the company's early TV efforts is "The Electric Company," which aired during the 1970s and was revived with new episodes on PBS in January.

Sesame Workshop gets revenue from product licensing and the sale of its programs to PBS and syndication. The company is also funded by government agencies, foundations and corporations.

Total revenue was $145 million in 2008, with operating expenses totaling $141 million, according to the company's Web site.

___

On the Net:

http://www.sesameworkshop.org

© 2009 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed. Learn more about our Privacy Policy.

  • Entertainment NewsEntertainment NewsMore>>

  • White House claims right to exclude 'grandstanding' Acosta

    White House claims right to exclude 'grandstanding' Acosta

    Wednesday, November 14 2018 11:59 AM EST2018-11-14 16:59:52 GMT
    Wednesday, November 14 2018 7:29 PM EST2018-11-15 00:29:30 GMT
    (AP Photo/Evan Vucci, File). FILE - In this Nov. 7, 2018, file photo, CNN journalist Jim Acosta does a standup before a new conference with President Donald Trump in the East Room of the White House in Washington. CNN sued the Trump administration Tues...(AP Photo/Evan Vucci, File). FILE - In this Nov. 7, 2018, file photo, CNN journalist Jim Acosta does a standup before a new conference with President Donald Trump in the East Room of the White House in Washington. CNN sued the Trump administration Tues...
    President Donald Trump's administration claims it has "broad discretion" to regulate access to the White House as it fends off a legal challenge from CNN and other outlets over the revocation of journalist Jim... 
    President Donald Trump's administration claims it has "broad discretion" to regulate access to the White House as it fends off a legal challenge from CNN and other outlets over the revocation of journalist Jim Acosta's "hard pass.". 
  • Michelle Obama begins arena tour in talk with Oprah

    Michelle Obama begins arena tour in talk with Oprah

    Tuesday, November 13 2018 10:58 PM EST2018-11-14 03:58:36 GMT
    Wednesday, November 14 2018 7:23 PM EST2018-11-15 00:23:15 GMT
    (Photo by Rob Grabowski/Invision/AP). Michelle Obama, right, is greeted by Oprah Winfrey to discusses her new book during an intimate conversation to promote "Becoming" at the United Center on Tuesday, Nov. 13, 2018, in Chicago.(Photo by Rob Grabowski/Invision/AP). Michelle Obama, right, is greeted by Oprah Winfrey to discusses her new book during an intimate conversation to promote "Becoming" at the United Center on Tuesday, Nov. 13, 2018, in Chicago.
    Former first lady Michelle Obama officially starts her national and international tour to promote her new book, 'Becoming,' by sitting for a conversation with Oprah Winfrey at the home arena of the Chicago Bulls. 
    Former first lady Michelle Obama officially starts her national and international tour to promote her new book, 'Becoming,' by sitting for a conversation with Oprah Winfrey at the home arena of the Chicago Bulls. 
  • Aerosmith's Perry tweets 'doing well' after hospitalization

    Aerosmith's Perry tweets 'doing well' after hospitalization

    Wednesday, November 14 2018 8:18 AM EST2018-11-14 13:18:53 GMT
    Wednesday, November 14 2018 7:20 PM EST2018-11-15 00:20:13 GMT
    (AP Photo/Aijaz Rahi, File). FILE - In this Saturday, June 2, 2007, file photo, American rock band Aerosmith's guitarist Joe Perry performs during a concert in Bangalore, India. Perry is hospitalized with breathing problems that began after a performan...(AP Photo/Aijaz Rahi, File). FILE - In this Saturday, June 2, 2007, file photo, American rock band Aerosmith's guitarist Joe Perry performs during a concert in Bangalore, India. Perry is hospitalized with breathing problems that began after a performan...
    Joe Perry is feeling the love from fans after he was hospitalized with breathing problems that began after a guest performance with Billy Joel in New York. 
    Joe Perry is feeling the love from fans after he was hospitalized with breathing problems that began after a guest performance with Billy Joel in New York. 
Powered by Frankly
All content © Copyright 2000 - 2018 KFMB-TV. All Rights Reserved.
For more information on this site, please read our Privacy Policy, and Terms of Service, and Ad Choices.