Even Elmo is affected by the recession.

The nonprofit producer of "Sesame Street" and other kids' programs has announced they are eliminating 20% of its work force because of the recession. Poor Grover!

Sesame Workshop, the home of Big Bird and Elmo, was founded in 1968 and debuted "Sesame Street" a year later. It then grew into a multi-million dollar production empire that includes TV, books and online programming.

The company says it's eliminating 67 of 355 staff positions.