More than 20 years of accumulated experience at Intel was not enough to save Sriram Ramkrishna’s senior community and developer relations position at the company.
In June, the 56-year-old Portland, Oregon, resident heard that his division was in danger and officially lost his job in a round of layoffs in July.
To make matters worse, on the day of Ramkrishna’s departure, his wife also lost her job.
In an essay published for Business Insider, he said the months-long job search has been “challenging,” but that it will be “a while before I start panicking about finances” (1).
In addition to their severance pay, the couple has a savings cushion. Additionally, even with increased job competition, Ramkrishna says he feels better prepared than before.
This is not the first time Ramkrishna has faced a layoff in his career. In fact, he worked at Intel from 1996 to 2016. Ramkrishna also says he has a stronger sense of his interests and skills, as well as a broad supportive community with former Intel employees and professional connections.
But even with these strengths, Ramkrishna admits that it will take “luck and time” to land a new job.
“If an employer I’m interested in posts a job, there are bound to be at least 400 applicants. I had to find a way to stand out, especially when walking through the front door doesn’t seem like a viable option,” he said.
Unfortunately, Ramkrishna’s situation is becoming all too common as big tech companies continue to announce mass layoffs.
Recent data from executive outplacement firm Challenger, Gray & Christmas showed that technology companies will have some of the largest job cuts in 2025, with 153,536 between January and November, 17% more than the 130,701 announced through November 2024 (2).
In addition to Intel, large companies such as Amazon, Alphabet and Meta have announced job cuts in several divisions. Unsurprisingly, AI is one of the most cited reasons for layoffs this year.
Top CEOs like Klarna’s Sebastian Siemiatkowski make no secret that AI will change things dramatically.
“I feel like a lot of my tech peers are missing the point on this issue. I think there’s a massive shift happening in knowledge work. And it’s not just in banking, but in society in general,” Siemiatkowski said in an interview with Bloomberg Television (3).
Challenger data also says that “cost cutting” is one of the main reasons behind the latest wave of job cuts. Of the companies tracked by Challenger, it found that employers cited slimming costs for 50,437 layoffs in October.
Unsurprisingly, these extreme layoff numbers translate into greater competition among job seekers. Christine Cruzvergara, director of education at professional social network Handshake, told PBS that its data shows overall jobs are down 15% compared to 2024, but applications are up 30% (4).
So even with decades of experience and excellent credentials, the combination of cost-cutting and intense competition is making the job search longer and more difficult.
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An important takeaway from Sriram Ramkrishna’s story is the importance of building a strong reserve of savings.
The usual advice is to set aside at least three months’ salary in an emergency fund, but remember that Ramkrishna has been looking for work for more than four months.
Given the increased uncertainty in the current job market, it is safer to increase these emergency savings to the upper six-month range, especially if people feel they are in industries more sensitive to trends like automation.
While you’re employed, prioritize paying off high-interest debt as soon as possible, which could be stifling if income stops. Remember, just because you lose income doesn’t mean your debt payments will stop. By reducing your required monthly payments as soon as possible, you will create more breathing room during a period of unemployment.
For help with saving and paying off debt, consider downloading a money management app. Online trackers can give you detailed information about your cash flows so you feel more in control of creating a solid budget. A money management app can also help separate the essentials, which is helpful if you need to cut costs after a job cut.
It also helps to create a “job loss plan” ahead of time, sort of like a “fire drill” for your professional life. Imagine you’ve just received news of a layoff and how you’re having to adjust your finances to deal with prolonged unemployment.
Knowing these details in advance eliminates a lot of “what if” thinking and helps you make more rational decisions during a high-stress period.
Lastly, remember that one of Sriram Ramkrishna’s greatest assets has been his strong professional network.
Connecting with former colleagues and attending conferences gives Ramkrishna more opportunities to find work by giving him direct access to hiring managers and valuable private Slack channels and Discord servers.
Wherever you are in your career path, it pays to continue networking. You never know when these connections will become your lifeline to a new career.
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Business insider information (1); Challenger, Gray and Christmas (2); Bloomberg (3); PBS (4)
This article provides information only and should not be construed as advice. It is provided without warranty of any kind.
