Conde Nast, the formerly untouchable magazine company where editors had ridic expense accounts and plush offices, has been feeling the tough economy along with the rest of the media world.

That didn’t, however, stop the company from giving some staffers Christmas presents from Lutz & Patmos earlier today. A cashmere Herringbone Scarf, to be specific. The very same cashmere Herringbone Scarf that’s currently on sale for $97.50 (from $197.00) on L&P’s Web site. We guess we can’t fault them for practicing the frugal shopping so many of their brands have been championing recently.

Also, we’re just jealous. Everyone knows bloggers only get coal for the holidays, assuming they keep their jobs.

UPDATE: A tipster reports there’s a tag that says “Our 2008 holiday gift is a luxurious cashmere scarf designed by knitwear luminaries Lutz & Patmos exclusively for the employees of Conde Nast.” Well, now we just feel like a jerk. Bring on the coal.