This study examined the effectiveness of a structured cognitive stress reduction program for unemployed managers involved in an outplacement program. Participants were randomly assigned to one of two conditions. One group of managers received structured weekly counseling using a cognitively based stress reduction program. They were compared with a control group that received unstructured advice about managing stress as part of a typical outplacement program. The managers who received the cognitive intervention, as compared with managers in the control group, found reemployment significantly sooner and showed reductions in levels of state anxiety and anger that were statistically significant.