The lackluster economy is impacting everyone, even Hollywood heavyweights.
The revenues and profits are falling at The Tonight Show; so is the ax.
With less money, the show, similar to any business needs to reduce costs by cutting staff and slashing the payroll.
The report noted that 20 to 25 staff members have already been laid off, and Leno adjusted his pay in order to prevent any additional cuts.
President Obama suggested that if Mitt Romney ran The Tonight Show Jay would have been fired since the job would have been off-shored to India.