Layoffs hit Sesame Street

  @CNNMoney June 26, 2013: 10:18 AM ET
sesame street jobs

Layoffs are coming to Sesame Street.

NEW YORK (CNNMoney)

Sesame Workshop, the parent organization behind "Sesame Street," laid off about 10% of its staff.

The group's statement on Wednesday said the layoffs were necessary to "strategically focus our resources" because of "today's rapidly changing digital environment."

The layoffs will not affect any of the performers known to the audience.

The group is a nonprofit organization. According to its financial statements, its total revenue in the fiscal year that ended in June 2012 was down 15%. Its operating loss more than doubled to $24.3 million.

The group's statement said "We remain optimistic about our future."

Related: Thanks Mitt - Big Bird costumes sell out

In fiscal 2012, the group received $46.2 million from licensing revenue from toys and other products based on its characters such as Elmo and Big Bird. It also received $33.8 million from royalties and fees, and $33.8 million in program support from corporate and foundation donations and the government.

Sesame Street first aired in 1969 and now appears in more than 150 countries. To top of page



Join the Conversation
CNNMoney Sponsors
Market indexes are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer LIBOR Warning: Neither BBA Enterprises Limited, nor the BBA LIBOR Contributor Banks, nor Reuters, can be held liable for any irregularity or inaccuracy of BBA LIBOR. Disclaimer. Morningstar: © 2014 Morningstar, Inc. All Rights Reserved. Disclaimer The Dow Jones IndexesSM are proprietary to and distributed by Dow Jones & Company, Inc. and have been licensed for use. All content of the Dow Jones IndexesSM © 2014 is proprietary to Dow Jones & Company, Inc. Chicago Mercantile Association. The market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. FactSet Research Systems Inc. 2014. All rights reserved. Most stock quote data provided by BATS.