From ₹40 Lakh Salary to Rapido Rides: Layoff Pushes Techie into EMI Struggle After ₹1.4 Crore Home Purchase

What happens when a stable high-paying IT career suddenly disappears, but the financial commitments built on that income continue without pause? This is the harsh reality facing a tech professional whose journey from a ₹40 lakh annual package to riding a bike taxi for daily survival has now gone viral, sparking widespread discussion about job security and long-term financial planning in India’s tech sector.

According to reports shared through a widely circulated video, the IT employee had built a comfortable life while working in the corporate sector. In 2024, confident about his steady income and future growth, he purchased a 3BHK apartment worth around ₹1.4 crore in Prateek Grand City in the NCR region. At the time, the decision appeared well-calculated—his EMI of approximately ₹95,000 per month seemed manageable against his strong salary, and the property was seen as both an investment and a milestone achievement.

Friends and acquaintances recall that the purchase was a proud moment for him. The home represented years of effort and career stability, and like many young professionals in the IT industry, he believed that consistent income would continue to support long-term financial commitments.

However, everything changed after an unexpected layoff. Within months, the steady paycheck stopped, and the transition from earning comfortably to having no income created immediate financial pressure. With no job for the past three months, the burden of the home loan EMI remained unchanged, turning what once felt like a secure investment into a stressful monthly obligation.What happens when a stable high-paying IT career suddenly disappears, but the financial commitments built on that income continue without pause? This is the harsh reality facing a tech professional whose journey from a ₹40 lakh annual package to riding a bike taxi for daily survival has now gone viral, sparking widespread discussion about job security and long-term financial planning in India’s tech sector.

According to reports shared through a widely circulated video, the IT employee had built a comfortable life while working in the corporate sector. In 2024, confident about his steady income and future growth, he purchased a 3BHK apartment worth around ₹1.4 crore in Prateek Grand City in the NCR region. At the time, the decision appeared well-calculated—his EMI of approximately ₹95,000 per month seemed manageable against his strong salary, and the property was seen as both an investment and a milestone achievement.

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— Vivek (@Vivek_4580ji) April 9, 2026

Friends and acquaintances recall that the purchase was a proud moment for him. The home represented years of effort and career stability, and like many young professionals in the IT industry, he believed that consistent income would continue to support long-term financial commitments.

However, everything changed after an unexpected layoff. Within months, the steady paycheck stopped, and the transition from earning comfortably to having no income created immediate financial pressure. With no job for the past three months, the burden of the home loan EMI remained unchanged, turning what once felt like a secure investment into a stressful monthly obligation.

To manage his expenses and continue paying the EMI, the techie reportedly began working as a Rapido rider. Each ride now contributes to meeting his financial commitments, highlighting a dramatic shift from an office-based corporate lifestyle to long hours navigating city traffic. The sudden change has not only affected his income but also taken a visible emotional toll.

A friend who recently met him shared that the stress is evident in his daily life. The home that once symbolized success and achievement now feels like a source of constant anxiety. Sleepless nights and uncertainty about securing another job have added to his struggle, reflecting the emotional impact that often accompanies sudden unemployment.

His situation underscores a growing concern among professionals in high-paying sectors: while salaries in IT may appear strong on paper, long-term loans and EMIs often assume uninterrupted income. When that income stops, even briefly, the financial imbalance can become severe.

On the other side of the tech industry, similar concerns have been amplified by recent large-scale layoffs. Reports suggest that Oracle, a major US-based technology company, has undergone significant workforce reductions. It is believed that around 12,000 employees in India were affected in a recent round of layoffs, with additional job cuts expected in the near future. Globally, the company is said to have reduced its workforce by nearly 30,000 employees, while its India headcount is estimated to be around 30,000.

An internal communication reportedly stated that the restructuring is aimed at streamlining operations, with some roles becoming redundant due to organizational changes. Employees affected in India have reportedly been offered severance packages that include 15 days’ salary for each year of service, along with one month’s unpaid wages until the termination date, leave encashment, gratuity where applicable, and a one-month notice period payout. In addition, an extra two months’ salary has reportedly been proposed as a top-up benefit. However, this enhanced package is said to be applicable only to those who opt for voluntary resignation and an amicable settlement.

Adding another perspective, former employee Merugu Sridhar has claimed that he was laid off in September after raising concerns about an alleged 16-hour work schedule. He also stated that a number of Indian employees working in the United States were impacted, where stricter labor regulations make workforce reductions more complex compared to India.

Together, these two stories highlight a broader reality in today’s technology-driven job market. High salaries, once considered a guarantee of financial stability, are increasingly being tested by rapid industry shifts, restructuring, and unexpected layoffs.

For the tech professional struggling with a ₹95,000 EMI today, and for thousands of employees navigating uncertain job markets, the situation serves as a reminder that financial planning in volatile industries requires more than just income—it demands resilience, caution, and preparation for uncertainty.

Note: This story is based on a social media post that has been widely shared online.