Emerging Tech

Companies Cut Holiday Parties And Donate To Charity Instead

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Executive Summary

Although the recession has Scrooges many corporate parties off the 2008 holiday calendar, some firms are transforming humbug into humanitarianism by giving the savings to charity. Company-sponsored holiday galas hit a 20-year low in 2008, according to an annual survey of 108 firms by executive search firm Battalia Winston Amrop. Calling the cancellations "unhealthy," Dale Winston, the search firm's CEO, said the parties are "one of the last vestiges of corporate socialization left." But instead of saving cash, some firms are pursuing a more selfless mission.

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