'Stop Spending At Bars..Save As Much Money As Possible': IT Employees Advised Amid 1 Lakh Tech Job Cuts

A wave of mass layoffs across major multinational companies has sparked widespread anxiety among tech and IT employees, with social media users warning each other to brace for financial uncertainty and urging restraint in spending habits.

A recent post on X by The Kobeissi Letter listed more than one lakh job cuts announced across several leading companies, including UPS (48,000), Amazon (up to 30,000), Intel (24,000), Nestle (16,000), Accenture (11,000), and Microsoft (7,000). The post noted that “the labour market is clearly weakening,” highlighting growing instability across industries.

The news triggered intense reactions from professionals online, particularly in the IT sector. One user, Sergio, advised workers to “insulate” themselves financially amid the uncertainty, writing, “Now’s not the time to be spending all your paychecks boozing at bars and eating out every day. It’s time to lock in, increase your income, and save/invest as much as possible. This is not a drill.”

Another user, Neon White Cat, shared a personal account of losing a job opportunity before it began, “I recently accepted a job to work for xAI and was waiting for the cohort to start, and the whole thing got axed yesterday, including pre-existing jobs.”

Another user warned that the layoffs were not merely due to market pressures but part of a long-term shift driven by artificial intelligence.

“The real reckoning will be when people realise this is not due to companies under stress but companies under AI optimisation. This is not a temporary downturn but the start of a perpetual trend,” the user wrote.

Another user claimed that Amazon had recently laid off 14,000 employees, with another 16,000 cuts expected soon, warning that “senior employees are the most affected” due to existing financial commitments such as loans and family expenses.

The spate of layoffs, spanning sectors from technology to manufacturing and retail, has reignited debate over the future of work in the AI-driven economy. With experts predicting more job losses in the near future, employees are being urged to save aggressively, diversify income sources, and prepare for what many are calling an “unpredictable period” for global employment.