Managing his elves and trying to cut costs
His plant is out of date it needs modernization
He has quite a large debt accumulation

Elves are expensive, they do not come cheap
And you would not believe the bills for the heat
Santa stands to lose everything he owns
If he defaults on yet another of his loans

Things are looking bad for Santa
He can slip down chimneys but he can't balance accounts
Things are looking bad for Santa
If he wrote a cheque it probably would bounce

He hires an accountant to come and advise
The accountant says that he has been unwise
Cuz even if the costs were cut down drastically
It's still hard to make money giving things away for free

Santa Claus decides to wipe the slate clean
He lays off half the elves and buys mordern machines
Then he auctions off all unnecessary stock
He gets a lot for Rudolf from Ripley's believe it or not

Things are looking bad for Santa
He's made all sorts of changes but it hasn't fixed a thing
Things are looking bad for Santa
Missus Claus has left him and the elves are picketing

Hey! Hey! Ho! Ho! The big fat pig has got to go!
Hey! Hey! Ho! Ho! The big fat pig has got to go!

Santa's had enough he locks the elves outside
He butchers all the reindeer and sells off all their hides
He sells his shop to Disney and leaves the north pole
To go find cheaper labour down in Mexico