Executives with Valet Girls, an all-girl parking service started in 1983, hoped to the expand the business to 40 locations by 2014, but "that growth plan ... was put on a sudden stop by the recent recession," said co-president Nancy Saltzman.
"Even the rich and famous in Beverly Hills are shopping around for the best price when it comes to valet parking for their parties," she said. "Never before did we compete for events based solely on price but that changed this year."
To boost business rates were rolled back to where they were 10 years ago -- $26 per hour per valet. It had been $32 per hour.
Local news from across Southern California
In January, Valet Girls, which had about 100 employees, cut its number of valets in half and laid off their controller, full time payroll administrator and office coordinator leaving only the human resources director and receptionist in the Los Angeles offices.
"It is the sign of the times, or at least the next few years for us," Salzman said.