We were under the impression people turned to nudity in times of trouble, but apparently this doesn’t extend to skin magazines. Man, this economy sucks.

In a memo sent to staffers yesterday, Playboy Enterprises, Inc. CEO Christie Hefner announced the company would be laying off 55 employees and not hiring workers to fill another 25 empty spots.

In part, Hefner blamed the fact that advertising dollars are heading to “other platforms,” but given the magazine’s feeble (although improving) Web presence one can’t exactly blame advertisers for looking to spend their money elsewhere.

Hefner announced additional cost-cutting measures including outsourcing newsstand stales, switching to a lighter weight of magazine paper and a significant reduction of travel, entertainment and overtime reimbursements.

The grotto will remain, but who knows for how much longer the water will flow over its hallowed falls.