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Abstract (Summary) The US is caught up in a potentially protracted recession that will reverberate across the globe. Corporations throughout the country and across industries have engaged in widespread restructuring efforts to respond to the slowing economy. Given the growing recognition of the value of diversity and the importance of minimizing the risk of discrimination lawsuits, incorporating diversity in the restructuring plan is a small investment that may reap significant rewards in minimizing risk and enhancing the retention of high-potential talent. Here are five steps to manage diversity and minimize risk during restructuring: 1. Manage restructuring proactively to minimize risk. 2. Identify and evaluate risk factors. 3. Minimize risk exposure -- impact and probability. 4. Monitor and assess restructuring and risk mitigation process. 5. Review all communication about the restructuring process. The steps detailed above will assist in achieving the goals of the restructuring while also minimizing the accompanying risk. The United States is caught up in a potentially protracted recession that will reverberate across the globe. Corporations throughout the country and across industries have engaged in widespread restructuring efforts to respond to the slowing economy. The goals of the restructuring efforts include increasing efficiency and productivity, reducing costs, and stabilizing or increasing a battered stock price. Failure to develop and execute a welldefined corporate restructuring plan, however, can reduce the expected benefits of such efforts. Given the growing recognition of the value of diversity and the importance of minimizing the risk of discrimination lawsuits, incorporating diversity in the restructuring plan is a small investment that may reap significant rewards in minimizing risk and enhancing the retention of high-potential talent. It should be clear, however, that race/ethnicity, gender, and age should not be a factor in any employment decision. Accordingly, this article illustrates how diversity can be lawfully incorporated into the restructuring process. Overview of the Employment Outlook A quick review of the corporate landscape shows that corporations are engaging in restructuring efforts across industries. Through October 2008, U.S. payrolls have shed 1.2 million jobs, with some economists predict- ing an additional 200,000 losses a mondi through mid-2009. September 2008 also saw a peak in the num- ber of mass layoffs, instances when employers cut 50 jobs or more, at 2,269, the highest since the terror- ist attacks in September 2001. More specifically, particularly hard-hit sec- tors include financial services, which has seen the loss of over 110,000 jobs in 2008 through September. Further cuts are expected as the industry reor- ganizes following the tectonic shifts to the U.S. financial system. Housing was among the first to experience the downturn as construction, mortgage lending, and real estate agencies braced for the mortgage meltdown. The con- traction is not over yet, as construction jobs declined by 100,000 in the third quarter. The manufacturing sector, led by ongoing restructuring efforts in the domestic auto industry, has lost over 200,000 jobs in the past three months alone. More cuts are expected as sales are cratering. Compounding the problem, consultants to the indus- try state that one in 10 jobs is con- nected to the domestic auto indus- try. The pharmaceutical industry is also cont