According to a recent article by British newspaper The Guardian, 27% of UK businesses are cutting the Christmas party fund.
"Almost four in five British businesses are cutting back on everything from hiring new staff to paying for the office Christmas party, as they batten down the hatches for a deep recession", states the article Pay rises and Christmas parties cancelled as companies cut costs.
According to a survey of more than 1,000 UK firms, "Four out of 10 businesses said they had cut back on recruitment; 27 per cent had reduced pay or bonuses; and another 27 per cent said they were squeezing the entertainment budget, including the Christmas party fund."
But it's not all bad news. Prime Minister Gordon Brown insists that Britain is better prepared for the global crisis than other countries, and promises to unveil a plan to boost employment by using the public sector.
In the meantime, businesses in the United Kingdom should move forward with the Holiday parties. Instead of cancelling the Christmas party, try these cost-cutting ideas and use funny employee awards to bring some much-need laughter into the workplace.
It's what David Brent would do.