Buckingham Palace Workers Lose Perk: Is Queen Trying to Save Her Job

Buckingham PalaceBuckingham Palace staff won't be enjoying their annual Christmas party. Grinch Queen Elizabeth called it off. She could have made this move to save her job.

The bash would have cost about 50,000 pounds. Such lavish spending could send the wrong signal to a nation in recession at exactly the wrong time. This is a time when many question if The Royals, frequently front page on the tabloids, is an institution which provides much value except attracting tourism. Tourism accounts for about 4.5% of the UK GDP. But right now tourism is also a depressed industry, accelerating the job threat to Queen Elizabeth.

U.S. employers might also find it smart to cancel their Christmas parties. That could send a powerful message about cutting costs in order to save jobs. Employee morale could soar. Simultaneously axing the Christmas party is an austerity measure which could resonate with other constituencies, ranging from shareholders to customers and clients.

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