Defiant bosses on the north-east are failing to put a damper on Christmas cheer because of the credit crunch, according to reports.
Website nebusiness.co.uk reports that predictions of doom and gloom from the Confederation of British Industry are failing to put a damper on Christmas spirits.
Despite financial times being hard, 87.5 per cent of businesses in the Tees Valley region said they would still be holding an office Christmas party for their employees.
Zanna Bewick, who runs consultancy firm Elphaba Business Solutions, told the website that employers are willing to go the extra mil to treat their workers this Christmas.
She said: "No one who I work for is not having a Christmas party."
Despite the cheery outlook, bosses in the north-east are still going to be looking for more affordable corporate event venues over the Christmas period.
Employers should work harder to ensure this year's Christmas party is to everyone's taste, as research out last week shows that office parties are "dreaded" by many employees.
Leading behavioural psychologist Jo Hemmings said: "While most people like to let their hair down and enjoy the fact that they are being treated to an event, they don't want to be out in a potentially embarrassing or dull situation with colleagues, with the only common thread being work itself."