Sesame Workshop lays off 67

NEW YORK, March 12 (UPI) -- Sesame Workshop, the U.S. non-profit producer of "Sesame Street" and other educational programs, has announced plans to lay off 20 percent of its workforce.

The organization said it is laying off 67 of its 355 employees because the group is "not immune to the unprecedented challenges of today's economic environment."

"After careful review, we have concluded that we will have to operate with fewer resources in order to achieve our strategic priorities," The Financial Times quoted Sesame Workshop as saying in a statement.

While a Sesame Workshop spokeswoman declined to offer details regarding the downsizing, the Times noted the organization depends largely on donations from Wall Street institutions, large corporations and private foundations, all of which are scaling back their philanthropic activities during the current economy.