The holiday office party is the latest to fall victim of the economy.
As we told you at the top of our news, Citibank in Sioux Falls cut its big holiday party at the arena.
And the credit card issuer is far from alone. In tonight's Money Matters we see how plenty of companies are playing scrooge when it comes to the office party. 

J & L Harley-Davidson in Sioux Falls is going ahead with plans for a holiday party for the company's 75 employees.
Joe Entenman of J&L Harley-Davidson says, "In terms of expenses, we maybe cut some expenses in other areas to make sure we allow for our Christmas party, because our employees do work hard all year long. So we feel it's important to have this for them. 

But his company is in the minority.
It's turning out to not be such a happy holiday season for caterers and party planners. According to a national catering association this is the worst drop off in business they've seen since the months following the September 11th attacks. 

Jen Rothenbuehler from the Holiday Inn City Center says, "A lot of them are saying they're cutting back. Their budgets are a lot less than previous years, or they're telling us they're not doing anything at all. Maybe their giving employees a smaller bonus or some type of gift certificates; but definitely cutting back on parties. 

Those who still say the party's on are switching to cheaper locations or they're less extravagant.
Rothenbuehler says, "Definitely cutting back by at least $10 in the meal area. Entertainment, maybe they're not bringing in entertainment. " 

The drop in business has the Holiday Inn City Center slashing its own party.
"Usually we do employees and spouses, but this year, just employees alone, focus more on them."
For some companies it's as much about appearances as it is about the money. 

Rothenbuehler says, "With layoffs going on they don't want to portray they're being extravagant and spending money foolishly." 

But J & L still sees it as an investment in the future of the company.
Entenman says, "It is the holiday season. Regardless of all the doom and gloom around us, it's good to be positive" 

Because it's losing out on business this year, the Holiday Inn City Center is trying to generate more by offering small companies a chance to combine their parties or by throwing in complimentary centerpieces.