In my opinion, the purpose for the Christmas party in 2008 is to bond as a team and reaffirm your need to pull together to make it through this economic crisis.
Yes, get rid of the expensive “bash” concept. Yes, cut back on what you serve and eliminate fancy decorations, but don’t drop the entire event.Cutting back on unnecessary frills sends the message that you at the top know how to be frugal.
Make this year unique. Create an event that reaffirms the worth of each individual as a valuable contributer to the organization and bonds you as a team to make it through the winter storm intact.