BusinessCompany NewsChristmas parties still on, say FDs

Christmas parties still on, say FDs

Christmas is not off the agenda for the majority of UK companies this year, despite terrorism fears, war in Afghanistan and the negative economic climate.

This week’s Accountancy Age/Reed Personnel Big Question found more than four out of five finance directors say their companies still intend to make funds available to their staff for a Christmas party at the end of this year. Only 12% will not.

One respondent said: ‘It would have to be extreme circumstances that would make us do nothing for staff at Christmas.’ Another remarked: ‘You still have to keep your staff happy.’

But some companies are downsizing their celebrations. ‘We normally have a big dinner and dance,’ said one FD. ‘We’re not doing that this year, instead we are going to focus on smaller department dinners, which will cost the company less money.’

One FD did admit his company was definitely not having a Christmas party this year, saying: ‘The economic situation is making cutbacks necessary.’

A study released by Grant Thornton last week found that nine of ten company chiefs forecast that the economy will not grow over the next year.

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E&Y says UK could avoid recession

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