More than 20 years of accumulated experience at Intel wasn’t enough to secure Sriram Ramkrishna’s senior community manager and developer relations position at the company.
In June, the 56-year-old Portland, Ore., resident heard his department was in danger and officially lost his position in a round of layoffs in July.
To make matters worse, on the day Ramakrishna left, his wife also lost her job.
In an article for Business Insider, he said the months-long job search was “challenging,” but “it would be a while before I started to panic about my finances” (1).
In addition to his severance package, the couple has a savings cushion. Plus, despite increased competition for jobs, Ramkrishna said he feels better prepared than before.
This is not the first time in his career that Ramkrishna has faced redundancy. In fact, he worked at Intel from 1996 to 2016. Ramkrishna also said he has a stronger sense of his interests and skills and has a broad supportive community of former Intel employees and professional connections.
But even with these advantages, Ramkrishna admits that finding a new job requires “luck and timing.”
“If an employer I’m interested in posts a job, there’s bound to be at least 400 applicants. I have to find a way to stand out, especially when walking in through the front door doesn’t feel like a viable option,” he said.
Unfortunately, Ramkrishna’s situation is becoming increasingly common as big tech companies continue to announce mass layoffs.
New data from executive outplacement firm Challenger, Gray & Christmas shows that technology companies are leading the charge in layoffs in 2025, cutting 153,536 jobs between January and November, a 17% increase from the 130,701 announced in November 2024 (2).
In addition to Intel, major companies such as Amazon, Alphabet, and Meta have announced layoffs in various departments. Not surprisingly, artificial intelligence is one of the most cited reasons for layoffs this year.
Major CEOs like Klarna’s Sebastian Siemiatkowski aren’t hiding that artificial intelligence will change things dramatically.
“You know, I feel like a lot of my tech brethren are a little bit off the mark on this topic. I think there’s a huge shift happening in knowledge work. And it’s not just happening in banking, it’s happening in society as a whole,” Siemiatkowski said in an interview with Bloomberg Television (3).
Challenger’s data also shows that “cost cutting” is the main reason behind the latest wave of layoffs. Among companies tracked by Challenger, 50,437 employers were found to have laid off employees due to layoffs in October.
Not surprisingly, these extreme layoff numbers mean more competition among job seekers. Christine Cruzvergara, chief education officer at professional social network Handshake, told PBS that their data shows a 15% decrease in overall job openings compared to 2024, but a 30% increase in applications (4).
So even with decades of experience and stellar credentials, a combination of cost-cutting and fierce competition makes finding a job longer and more difficult.
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One of the key takeaways from Sriram Ramkrishna’s story is the importance of building stable savings.
Standard advice is to set aside at least three months’ salary in an emergency fund, but keep in mind that Ramkrishna has been looking for work for more than four months.
Given the greater uncertainty in the current job market, it would be safer to increase these emergency savings to the six-month limit, especially if people feel they are in an industry that is more sensitive to trends such as automation.
While you’re working, prioritize paying off high-interest debt as quickly as possible, which can be suffocating if your income stops. Remember, just because you lose income doesn’t mean debt payments are paused. By reducing your required monthly payments as quickly as possible, you will create more breathing room during your unemployment period.
For help saving and paying down debt, consider downloading a money management app. Online trackers can give you detailed insights into your cash flow, giving you more control to create a solid budget. Money management apps can also help differentiate between essentials, which can be helpful if you need to cut costs after a layoff.
It also helps to plan for “unemployment” ahead of time, a bit like a career “fire drill.” Imagine you have just received news of a layoff and how you must adjust your finances to deal with long-term unemployment.
Knowing these details ahead of time can eliminate a lot of “what if” thinking and help you make more rational decisions during high-stress times.
Finally, remember that one of Sriram Ramkrishna’s greatest assets is his strong professional network.
Connecting with and attending meetings with former colleagues gave Ramkrishna more opportunities to find a job, with direct access to hiring managers as well as valuable private Slack channels and Discord servers.
No matter where you are in your career, it pays to keep networking. You never know when those connections may become your lifeline into a new career.
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Business Insider(1); Challengers, Gray & Christmas(2); Bloomberg(3);PBS(4)
This article provides information only and should not be considered advice. It is provided without any warranty of any kind.
