'Dead Scared To Take Loan': Hyderabad Techie's Fear Amid IT Layoffs Sparks Debate

A software engineer from Hyderabad has ignited a massive online discussion after openly admitting that the ongoing wave of layoffs in the IT sector has left him too terrified to take a loan. At a time when pink slips, hiring freezes, and corporate uncertainty continue to shake the tech industry, his brutally honest confession struck a powerful chord with professionals across India.

Taking to social media, the engineer revealed that despite earning a respectable salary, he no longer feels financially secure enough to commit to long-term liabilities like home loans or heavy EMIs. According to him, the unpredictability of the tech job market has created a constant fear that stable employment can disappear overnight.

“I m an engineer and I am dead scared to take a loan right now. 5 years ago, software engineers used to take loan left, right & center. there was decent job security. and now... no one has a clue on what's coming in 1 year. So i wonder, is it just me or everyone has same problem,” Mutha Nagavamsi wrote on X.

His post soon went viral, triggering reactions from professionals who admitted they were battling the same anxiety. Many users confessed they had postponed buying homes, cars, or making major investments because the fear of sudden job loss continued to loom large over their lives. Others pointed out that repeated layoffs across major tech firms have silently reshaped how young employees now view money, savings, and financial stability.

Several professionals also highlighted the emotional burden of working in an industry where even high-paying jobs offer little guarantee of long-term security. While earlier generations often considered loans a pathway to building wealth, many young tech workers today increasingly see debt as a dangerous trap in an unstable economy.