Hyderabad Techie Voices Job Security Fears Amid IT Layoffs
‘Dead scared to take a loan’: Hyderabad techie says IT jobs no longer feel secure amid layoffs

Image: Hindustan Times
A software engineer from Hyderabad, Mutha Nagavamsi, expressed fear of taking loans due to job insecurity in the IT sector, which has seen significant layoffs over the past year. Many professionals are now hesitant to commit to financial obligations, reflecting a broader anxiety about the future of tech jobs.
- 01Mutha Nagavamsi described himself as 'dead scared' to take a loan, contrasting his current fears with the job security of five years ago.
- 02The IT industry has experienced a wave of layoffs, largely attributed to increased investment in artificial intelligence and automation.
- 03Professionals are cutting back on expenses and saving aggressively in response to the uncertain job market.
- 04Concerns were raised about the viability of engineering as a top career choice amid ongoing job insecurity.
- 05Advice shared among peers includes saving for several months and enhancing skills related to AI and problem-solving.
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Mutha Nagavamsi, a software engineer based in Hyderabad, has voiced his fears regarding job security in the IT industry, stating he is 'dead scared' to take a loan due to the current climate of layoffs. In a recent post on X, he compared the present situation to five years ago when software engineers enjoyed greater job stability. The past year has seen a significant wave of layoffs in the tech sector, driven by aggressive investments in artificial intelligence and automation. Many professionals echoed Nagavamsi's sentiments, expressing concerns about their financial futures and the unpredictability of IT jobs. As a result, individuals are increasingly hesitant to take on financial obligations, opting instead to cut expenses and save aggressively to prepare for potential job loss. Discussions in the comments section revealed that many are questioning the long-term viability of engineering as a career and are seeking advice on how to navigate this uncertain landscape. Suggestions included saving for six to eight months, moving back to hometowns to reduce living costs, and enhancing skills in AI-related fields.
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The ongoing layoffs and job insecurity in the IT sector are leading to financial anxiety among professionals, affecting their ability to make significant financial commitments like loans.
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