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Village People Handle Major Blow from YMCA

7/12/2010 2:27 PM PDT BY TMZ STAFF

The Village People were caught with their pants down last week when the YMCA announced it will be changing its name to "the Y" -- but  fear not ... our costumed heroes claim they're standing firm when it comes to their most famous hit.

0712_village_people_YMCA_EX

The cop, the Indian, the construction worker, the cowboy and the biker just released a statement to TMZ, saying they're all "deeply dismayed" by the organization's name change ... which could have serious ramifications on the greatest song ever based around an acronym.

Fortunately -- the Village People insists they "will continue to perform all four letters in their concerts around the world" ... specifically weddings, ballgames and Bar Mitzvahs.

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