Office Christmas Parties Banned in Croatia

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The global financial crisis has claimed another victim — office Christmas parties in Croatia. Croatian Prime Minister Ivo Sanader announced the plan, which also bans state-run companies and agencies from dipping into public funds to buy Christmas or New Year’s presents. This follows moves to freeze public-sector salaries in 2009 and to balance the country’s budget next year.

Speaking of efforts to balance the budget, Sanader said: “For that goal, we forbid buying of Christmas and New Year’s gifts as well as organizing of Christmas and New Year’s receptions. I believe that with the proposed measures…we can avoid a deeper crisis within the next year.” The country’s economy relies heavily on tourism; it’s feared that the number of tourists visiting Croatia will drop sharply in 2009.

Here in the States, Christmas gloom spread as Citigroup (Citibank) announced today that it will cut an additional 53,000 jobs from its payroll in coming quarters. That’s in addition to 23,000 layoffs in 2008. The banking giant will still have about 300,000 employees, down from a high of about 375,000 in the fourth quarter of 2007. Citigroup stock is down 68 percent this year, following $20 billion in quarterly losses during the last four quarters. Ah, to be in Croatia, and forego office parties as a solution.

Read more Christmas news.

Photo credit: Mark Wilson / Getty Images

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