Well, I have to admit that since we've both currently got work, the recession/depression hasn't really effected us much yet (well, other than losing most of the value of our savings, but I'm choosing to block that from my mind and focus on the immediate). So I was really bummed to get an email from my client informing me that the print budget for the annual report I've been designing was cut. Entirely. Really it makes perfect sense, and I'm sure a lot of organizations will make the same choice this year. I'll still get to finish designing the piece, it's just that it will go directly online instead of becoming a beautiful, printed piece. Of course, as a print designer, I will very much miss the tactile piece of the equation. And you just can't achieve the same impact with an online publication — the elements of pacing, color, and even surprise just don't translate as well.
I wouldn't be surprised, though, if this becomes the way businesses do business from now on. The money saved by avoiding print costs can certainly be put to better uses. I remember folks taking about the end of print 10 years ago and I just didn't believe it. Perhaps this worldwide financial crisis will prove to be the harbinger of this change.
Have you felt the impact directly yet? Other designers out there finding similar changes?