“The recession has spread from Wall Street to Sesame Street. The home of Elmo and Oscar the Grouch announced yesterday that it would cut a fifth of its 355-strong workforce as market turmoil ate into its income and assets. Sesame Workshop, the 41-year-old non-profit educational organisation behind the Sesame Street television programmes, toys and community projects, said it was ‘not immune to the unprecedented challenges of today’s economic environment’.”