Don't like someone's race -- nod-nod-wink-wink => "restructuring"
Don't like their sexual orientation -- nod-nod-wink-wink =>
"tough economic times"
Don't like the color of their shoes -- nod-nod-wink-wink => "pivoting"
And so on. It can just never be in writing or said explicitly. As long as there is a non-verbal or codified protocol between the owners (managers).
To prove anything is an uphill battle -- have to really establish a pattern, as in "20 people were laid off, last year, 25 were hired, all those laid off were of this race". Stuff like that.
Not at all saying that any unlawful discrimination happened her, just that this may be the base for a lawsuit, eave if she was on a at-will contract.