Firms tone down cheer at holiday

Forget corporate holiday bashes where glitterati are treated to fine champagne and French delicacies: Russia's economic crisis has taken the glow off the holiday season this year.

Many companies are now forced to scrimp on once lavish New Year's parties or celebrate the country's most beloved holiday in the office - with simple snacks on offer and employees bringing their own drinks.

On a recent afternoon servers were arranging Chianti bottles on white tablecloths for a holiday party for 500 employees of an international firm in Roll Hall, a venue just south of the Moscow city center.