Perhaps someone should remind Katherine Heigl that we’re in the middle of a recession….

Katherine Heigl — who may have enjoyed her final season on ABC’s Grey’s Anatomy — was dropped from the ensemble cast of the upcoming romantic comedy Valentine’s Day because she demanded an astronomical salary that industry insiders are calling “ridiculous.”

Katherine was in discussions for the Gary Marshall-directed film, which is scheduled to be released in February 2011, will feature an all-star cast, including Julia Roberts, Jennifer Garner, Anne Hathaway, Ashton Kutcher, Shirley MacLaine, and Bradley Cooper. The controversial Emmy winner found herself on the outside looking in after her $3 million salary demand was snubbed by producers.

An insider told The New York Post’s Page Six Column on Wednesday: “Producers at New Line originally had Katherine on their casting list. They wanted her for the project, but during the talks, she came back demanding $3 million for the role.”