Valassis Reduces the Cost of Fun for Employees

(MoneyWatch)  Valassis employees get a free lunch on their employer once a month, but hard times in the ad biz mean VP Mike Wood may be cooking those meals himself, according to KWCH, a Wichita news station.

It has a cafeteria, exercise room, stock options, and flexible schedules for it's employees. Once a month, there's usually a lunch - on the company - to show appreciation for it's workers.

But a good work environment doesn't mean Valassis is immune to economic troubles. The company is in a wage and hiring freeze. It's Wichita Vice President, Mike Wood, said those meals he feeds his employees may now be cooked by him in the cafeteria.

Valassis workers seem to like it:

Combined, Ronnie Smith and Mark Sardo have worked 47 years here. They don't plan on leaving.

"You know, it's the little things that people tend to appreciate," said Sardo. "It's nice to get a pat on the back when you do a good job every once in awhile."

Wood, in this KWCH video, said he is going to reduce Valassis's "fun" budget:

In '09 we're still going to have fun, we're just going to find a less expensive way to do it.

He'd better. The company's finances are on a knife-edge right now.

• See BNET's previous coverage of Valassis:
• Direct Mail Giant Valassis Is "Not Paying Its Bills"; Stock Is "Worth $0"
• The Cost of Valassis' Suit vs. News America Is Eating Its Profit
• Alloy Beats WPP, IPG et al in Network Efficiency Ranking