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In an effort to better understand the multidimensional nature of satisfaction, it is examined in the context of organizational restructuring. This context allows the test of a conceptual model that includes antecedents, components of work-related satisfaction, overall satisfaction, and satisfaction with life. The findings support the notions that (1) organizational restructuring has demonstrable implications for employee satisfaction and (2) work-related satisfaction is a major component of satisfaction with life. Contributions, limitations, and potential directions for future research are discussed.