Fewer companies plan to go all out with drinks and food this season according to a survey from Challenger, Gray & Christmas Inc.
62 percent of surveyed companies were planning holiday parties this year, down from 77 percent a year ago and 90 percent in 2007.
"For companies that have recently announced layoffs or other significant cost-cutting measures, such as wage freezes, it would be difficult to justify, let alone get in the mood for a holiday party," said John Challenger, the firm's chief executive officer.
At Gotham Hall, a premiere New York venue, Managing Director B. Allan Kurtz said he's only recently begun booking some of his most popular event days for the season. And, they're doing it on the cheap.
"No one's gangbusters like they've always been," he said, adding that he hasn't seen an atmosphere like this in the 25 years he's been in the business.
Last year, Kurtz said that pre-planned events scaled back, opting instead to reduce expenses by switching dinners for cocktail parties, or passing on the seafood. This time around, they're waiting till the last minute to book the event.
Let's face it, this is about appearances as much as it is about money.
No comapy wants to appear completely heartless (some do) spending cash on ice sculptures, scampi and open bars while employees worry about losing their jobs.
"You don't want to be eating your steak and thinking that it could have been in your wallet instead," said Eric Bolesh, 29, who works at a North Carolina business-consulting firm.
Viacom Inc is offering a trade-off: with employees.
They will get two extra paid days off instead of invitations to dinner parties hosted by such divisions as MTV and Paramount Pictures.
Other companies are going for the hors d'oeuvres instead of sit-down dinners, and limiting bar service to beer and wine.
Here in the Voodoo Kitchen, we are going with Pot Luck, cooking our own food.
