Now that we're officially in an economic recession [1], it probably won't come as a shocker that this holiday [2] may seem a little short on company-sponsored festivities. Even the traditionally lavish Google is downsizing its holiday party [3] this year — gone are the days of ice sculptures of the company's logo.

According to one survey [4], 2008 will have the lowest percentage of corporate holiday functions seen in the US in the past 20 years; roughly 20 percent of businesses [5] are downsizing or canceling Christmas festivities, with at least 65 percent of New York businesses [6] scaling back or cutting their holiday functions. Some are forgoing virtually all overhead costs, opting to throw a potluck party at the most memorable of settings: the office. Holiday parties are far from a necessity, so it makes smart sense that companies have seriously slashed these costs.

How is your employer handling the holidays this year?

Source [7]