![\"From](\"https:\/\/static.toiimg.com\/thumb\/msid-130197471,imgsize-69776,width-400,height-225,resizemode-4\/techie-earning-rs-40-lpa-turns-rapido-driver-struggles-to-save-rs-14-crore-home-bought-on-loan-after-layoff.jpg\")
<\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div><\/div>\n<\/div>\nIn a sad reminder of the volatility within the technology sector, a former software engineer who once earned an annual salary of Rs 40 lakh per annum is now navigating the streets of the National Capital Region (NCR) as a Rapido Bike Taxi rider. The ‘shocking’ career shift is a desperate attempt to keep up with a staggering Rs 95,000 monthly home loan EMI following a sudden layoff.The techie\u2019s plight came to light via a viral account from a friend, detailing a rapid descent from corporate success to a daily struggle for financial survival. In early 2024, bolstered by a high-paying role and the promise of career stability, the engineer purchased a premium 3BHK flat for Rs 1.4 crore. At the time, the investment seemed like a natural milestone. With a steady monthly paycheck, the nearly six-figure EMI was a calculated, manageable expense for a professional of his caliber. Friends remember his excitement, noting that the spacious apartment in the sought-after project was a goal he had worked toward for years.<\/p>\n The stability evaporated three months ago when the engineer was laid off. While his income vanished overnight, his debt obligations remained fixed. After ninety days of unemployment and a dwindling savings cushion, the reality of a Rs 95,000 monthly commitment forced a desperate career pivot. To prevent the bank from seizing his home, the engineer signed up as a rider for the bike-hailing service Rapido. His daily routine has shifted from coding and corporate meetings to navigating grueling NCR traffic, collecting small fares to piece together his massive mortgage payment.The story has sparked intense debate online regarding the “EMI culture” and the fragility of middle-class wealth in India\u2019s IT hubs. Financial experts note that while high-income packages provide immediate purchasing power, they often mask the risks associated with long-tenure loans.It highlights a wider reality where high-income packages often create a false sense of security, yet long-term loans do not adjust to sudden market disruptions. As the engineer continues his daily race against the bank, his situation leaves many white-collar professionals asking a simple but unsettling question: what happens when your biggest asset suddenly becomes your biggest burden?<\/p>\n A friend who recently visited the engineer described a visible emotional toll, noting that the home that once brought pride now serves as a primary source of worry. In the video he says that his engineer friend spends sleepless nights reflecting on the financial decision that has left him with zero room for error. His daily life now revolves entirely around earning just enough to stay afloat, with every rupee earned on the road going directly toward the bank commitment. “Every night he goes to sleep with tears in his eyes, just thinking, If only I hadn’t made this decision,” says his friend in the video describing his emotional state.The sad part is he’s been jobless for the last 3 months, which is why he’s had to start driving for Rapido now\u2014he has no clue what to do next As the video continues to circulate, it serves as a cautionary tale for white-collar professionals: in an era of rapid layoffs<\/a>, today\u2019s biggest asset can\u2014without warning\u2014become tomorrow\u2019s heaviest burden.As the video continues to circulate, it serves as a cautionary tale for white-collar professionals: in an era of rapid layoffs, today\u2019s biggest asset can\u2014without warning\u2014become tomorrow\u2019s heaviest burden.<\/p>\n US-based IT company recently laid off thousands of employees. The company’s India operations are said to have been hit hard by layoffs. Reports suggest that some 40% of the laid off employees worked at Oracle’s India offices. The company has approximately 30,000 employees in India, including those affected by the layoffs. In a 6 AM email sent to laid off employees, Oracle said that job cuts have been made due to certain organisational changes and “because of these changes, a decision has been taken to streamline the operations, and as a result, unfortunately, the position you currently hold will become redundant”. <\/p>\n Many laid off Oracle employees have shared their sorrow and in some cases anger on Redditt. A post titled ‘My dad got laid off after 15 years at Oracle and this is a rant’ says: “My dad has been working at Oracle for 15+ years and was laid off recently. NO CALL, NOTHING. Over an email. And it\u2019s making me furious even after a week. I would say he was an \u201cideal\u201d employee, by that I mean he loved his work and his team, didn\u2019t ask for promotions (only applied when FORCED by his managers), and really took pride in his work. He was a Solutions Architect at quite a senior position. And what baffled me is that Oracle decides to lay him off one random day (which he wasn\u2019t even expecting – his manager told him that there team is likely not to be touched since they were doing well) OVER AN EMAIL. I can\u2019t even imagine how shattered he must have felt seeing that. He loved working in that shitty company. So many people reached out to him after the news broke, just in complete shock that he was RIFd.”There are also some employees working on H-1B visa who have been laid off. Some of these are asking suggestions on Reddit. A post reads: I was one of the unfortunate ones who were laid off in the recent round. I was employed at the Innovations campus on an H1b visa. In the termination paperwork it mentions that I would still be on the Oracle payroll until June 1st.I wanted to reach out to see if anyone is in the same boat as me, so I can confirm the details of our situation —* Validity of stay in US* How to get letter of employment verification* Can I get the original i140 which Oracle holds* If I find employment before June 1st — would I technically need to resign from Oracle thus forfeiting the severance.* If I were to leave the country, how would I send my laptop back?* If there is a H1b specific thread please link me to it. And if you know the answers to any of the above questions and\/or want to add something, please feel free.<\/div>\n\n‘Pink Slip’ Crisis<\/h2>\n<\/p>\n
‘Nights of regret and anxiety’<\/h2>\n<\/p>\n
Oracle layoff tales on Reddit<\/h2>\n<\/p>\n