Now that we're officially in an economic recession, it probably won't come as a shocker that this holiday may seem a little short on company-sponsored festivities. Even the traditionally lavish Google is downsizing its holiday party this year — gone are the days of ice sculptures of the company's logo.
According to one survey, 2008 will have the lowest percentage of corporate holiday functions seen in the US in the past 20 years; roughly 20 percent of businesses are downsizing or canceling Christmas festivities, with at least 65 percent of New York businesses 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?