Date Added: Nov 2009
Although pundits insist the recession is officially over, when it comes to holiday parties, it appears that many companies haven't gotten the memo. For many hard-working employees, the best (and perhaps only) 2009 holiday gift from their employers will simply be a continuing paycheck. According to outplacement firm Challenger, Gray & Christmas's annual survey on the topic, frugality remains the holiday theme this year. Only 62% of companies are planning holiday parties - down from 77% last year and 90% in 2007. The survey also found that 10% of the companies that held a holiday party last year will cancel them this year due to cost-cutting initiatives.