Recession = Scaled Back Awards Season Parties

Vanity Fair‘s not the only one scaling back its awards season bash!

With the country in shit economic state and a possible actor’s strike on the horizon, Hollywoodland’s studio and media party planners have been called upon to scale back and organize events that are more ‘sensitive’ to the times.

Red carpets are being pulled back and guest lists cut back.

Sucks for you hangers on and mooches!

But, some things will go on as they did in gilded age.

Planning for the Governors Ball, hosted by the Academy of Motion Picture Arts and Sciences to honor Oscar night winners, is moving forward.

And, Elton John‘s annual Oscar viewing and after-party at West Hollywood’s Pacific Design Center to raise money for the Elton John AIDS Foundation is moving forward as well.

An Elton event publicist said, “We’re going full steam ahead. It’s a way to get people’s minds off of what’s going on. But you also have to be respectful.”