Firms downsize holiday events; some donate cash instead

[Amerigo Vespucci]

Firms downsize holiday events; some donate cash instead

http://sanjose.bizjournals.com/sanjose/stories/2008/12/29/story2.html?ana=e_ph

Silicon Valley / San Jose Business Journal - by Cathy Weselby

Friday, December 26, 2008

Corporate holiday event activity has decreased by as much as half this year in some industry sectors, and those who have decked the halls are spending much less this season.

Four Seasons Hotel General Manager Tracy Mercer said business is off 25 percent compared with last year because of downsized party budgets or postponed celebrations.

“What we’re hearing is that, given today’s business climate, people feel irresponsible to have a party,” Mercer said.

Cypress Semiconductor Corp. canceled its annual holiday party at the Fairmont San Jose and donated $313,000 to Second Harvest Food Bank instead. Other high-tech companies have followed the trend.