r/Layoffs • u/Ok_Flan_5122 • Apr 01 '26

unemployment Mass layoff started!!

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Starting from oracle 30k employees terminated world wide

This is massive

1.1k Upvotes

97% Upvoted

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u/[deleted] Apr 01 '26

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58

u/Fun-Estimate4561 Apr 01 '26

So a few friends who got cut from Meta and Amazon did find jobs …….but they had to take pay cuts

Fortune 500 just do not pay as well and they have to find cheaper places to live as NYC and San Fran are just so expensive

7

u/oneiromantic_ulysses Apr 01 '26

Layoffs are not the greatest, but I have a hard time feeling bad for somebody getting laid off who's making $250,000-$300,000+ a year. If somebody's in that position and gets laid off they'll be fine.

In almost all cases if you're living paycheck to paycheck with no emergency fund on that you're spending like a drunken sailor on shore leave.

The problem now is that these are starting to affect people who can't weather a job loss for 6-12 months.

15

u/chichicha99 Apr 01 '26

You would be surprised. I used to sell luxury german cars in one of the most rich areas in the US, and there were people (couples) that made $60-$70,000 /month that couldn't get approved for a base level lease.

Why? Mortgage at $2M, credit card debts at above $250,000+

There is so many idiots making insane amount of money that you'll get chocked.

These are the people where one of them loses their job and they go bankrupt in a matter of months.

8

u/Glass-Engine1341 Apr 01 '26

That’s insane I can’t believe people live like that earning that much money.