Goldman Sachs is taking unprecedented measures to ensure employees don’t make a public mess of the company’s reputation this holiday season. One measure in particular has people talking.

For the second year in a row the bailout investment company, which has so often been vilified for its exorbitant spending, salaries and bonuses, canceled its annual holiday party.

Shortly after the announcement, employees received a rambling voicemail with specific instructions regarding mandatory restrictions and regulations that would be in effect throughout the holiday season.

Among them:

• No private parties arranged for employees at any staff member’s home
• No unofficial, “departmental” parties held at local establishments or private homes, and
• Outside of work, employees can only socialize in “small” groups (defined as ”no larger than 11″) throughout the month of December.

It’s that last restriction that has so many people scratching their heads. But the reality is Goldman doesn’t want to be accused of encouraging “unofficial” holiday parties at downtown bars or social clubs as yet another way for bloggers to claim the company isn’t taking any real steps to curb spending. It’s a better-safe-than-sorry approach, but the question is are these restrictions:

1. A step Goldman Sachs should definitely be applauded for
2. Just another small way to distract people from the real issue, which is the obscene salaries and bonuses high-level execs at Goldman receive, or
3. Unnecessary steps that only serve to lower morale by forcing low-level employees to suffer for the careless actions of C-level execs?

We’d love to know what you think.

Source: “Goldman Employees Aren’t Allowed to Hang Out in Groups of 12 or More,” by Courtney Comstock, Gawker, 11/30/09