My old job did this every year for our boss for Christmas and her bday but she was really loved so I didn't mind. It was just pitch in what you want. I usually did $10-20.
You are so not wrong. That's ridiculous. And I think the bosses should absolutely shut down this tradition. They should not be accepting gifts like that, IMO.
I would be so uncomfortable if my team gave me a gift (collectively or individually). I definitely agree with not gifting up. I'm glad you spoke up and voiced your opinion. You're not off-base at all.
I give everyone on my team Wawa or Starbucks gift cards, and I usually end up baking a bunch of cookies and brownies, and bring them in the week leading up to Christmas. But that's the extent of it.
I worked someplace once where this was the norm. I found it really inappropriate, especially as I was just a PT office assistant. It was an orthodontist’s office that I worked at while DD was in Kindergarten $50 for his birthday, $50 for Christmas, and around $20/person towards a catered lunch on boss’ day and his birthday every year. The man made high six figures yearly and paid most of us just above minimum wage but his lifers worshipped him. The women I worked with had all been there 15+ years.
No, omg, no. I would be embarrassed if one of my employees gifted me something extravagant, let alone a group gift of that value. One of them brought me this Australian malted chocolate milk mix that I love and I thought that was super thoughtful, and also easy to accept. Anything else I would have to refuse, that would get awkward, everyone suffers. No.