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Companies are Also Cutting Back on Christmas Spending

It comes as no surprise that American consumers will be spending less this Christmas. However, it is still slightly worrying that even companies are significantly cutting back on holiday spending. Many workplaces around the country are skipping the annual Christmas party and are less generous with bonuses. Aside from spelling bad news to employees, it is also affecting contractors who make these parties happen.

James Kasper of Saz’s catering is feeling the pinch and he noted that “We’ve all had to work a little harder to bring some of that holiday spending into the catering business.” Meanwhile, many contractors in Milwaukee said that their business is down 30 percent this year because many companies are deciding not to have a party even if they were profitable throughout the year.

Some contractors noted that a lot of businesses can still afford to spend for the holidays but are deciding not to do it. Joe Bartolotta from the Bartolotta Restaurant Group said that companies are trying “to do the right thing socially”. They don’t want to have a beautiful party when a number of employees have been laid off. But beyond these companies, there is no doubt that a lot of establishments are really struggling.

To encourage these companies, catering businesses are offering attractive discounts and special deals. For example, packages that may have cost $60 before are being sold for $30 now or less. Companies that still want to have a Christmas party despite all the hurdles are finding some innovative ways to go about it. Hotels and other special places are not being rented out. Instead, they are holding private get-togethers. The Christmas spirit may be alive in the workplace yet.

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