The incredible shrinking or disappearing holiday party!

The sound of corks popping may be replaced by the sound of pins dropping: the next victim of the financial crisis appears to be the lavish holiday party. Morgan Stanley has nixed theirs. News Corporation sent theirs to the cutting room floor while ABC News is planning something more modest. Another financial services firm retains the Christmas spirit but cut the Taittinger and is adding something else (a bull market for prosecco and cava?), to trim the per person tab at their party according to the Times. The (no-)money quote: “Nobody’s ordering caviar as a first course.”

What’s your company doing this year to cut back, if anything? All the Dr. Vino interns were disappointed that this year’s magnum party has been downsized to a 375ml party. But hopefully we will all have something to cheer after the election!

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6 Responses to “The incredible shrinking or disappearing holiday party!”

  1. The economy has not affected the holiday party at my job at all. We are doing the exact same thing that we did last year which is what we have been doing for at least as long as I can remember. There are about 100 people who work with me and we have a lunch holiday party at the job in which the employees are required to either pay $10.00 or $5.00 and a dish. None of our employees want to pay more than that and have not wanted to in the past when the economy was better either. There is no alcohol permitted by the powers that be downtown or in the building and no one certainly would be drinking alcohol at lunchtime since we have to go back to work. In this bad economy I am glad we are not required to pay more for a party–if we were I do not think many of the employees would be willing to participate.

  2. I don’t mind if holiday parties become more humble, but I don’t think they should be canceled altogether. When the times are tough, that’s when it’s all the more important to gather as a group of people and celebrate what you do have.

  3. Having suffered through some excruciating holiday parties, usually with bad wine, I would much rather the money be spent on adding .001% to measly 2% raise! With my day job being in finance and working with investment bankers, I think it would be safe to say that spectacular, wine-paired closing dinners are a thing of the past. Drat! Those I would “suffer” through!

  4. Sobriety is fine and well, but the gloom and doom scenarios that the media keep painting just generate more of the same stuff that holds us down. It’s possible to be fiscally level-headed and to exercise sound judgement without engaging in complete and utter deprivation…let’s not forget that optimism and hope can be just as contagious as worry and fear. Which would you rather have this holdiay season.

  5. I manage a small technology consulting firm here in San Diego…we grew by 17 employees this year and don’t plan to cut anything out, per se. Most of us agreed that considering the economic situation, a lavish bash would be in poor taste. We’re spending a little less on the wine and the amenities (cigars, valet parking, door prizes) and directing it back into the bonus pool.

  6. Not a good thing, to be sure. I’ve always wanted holiday parties to be like the one in “The Apartment.” I’ve always been disappointed.


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