Laid off 4 times, ex-Amazon worker, 38, had $25K saved when she was let go last fall — but it's still hard. How to protect yourself in this job market

As she told Business Insider, what did save her was the $25,000 she stashed away in an emergency fund before she was let go (2).

Cobos said knowing she had that financial cushion — enough for six months of expenses — softened the blow.

“I don't think this layoff affected me emotionally as much as it did some of my coworkers,” Cobos told Business Insider. “The idea of having so much free time ahead of me was exciting.”

With experience comes wisdom, as Cobos demonstrates.

Just as she’s shared that wisdom with young people as a Junior Achievement volunteer (3), she’s sharing it with adults going through layoffs.

Here’s a look at just how tough the job market is right now and the kind of financial tactics that have worked for Cobos.

The state of the job market in 2026

Cobos is an “elder” millennial, a demographic particularly hard-hit by layoffs.

Last year, Business Insider reported on the growing number of large firms shedding middle managers — many of whom happen to be older millennials like Cobos (4).

In fact, there was a 400% increase in the number of ‘elder’ millennial managers let go between 2022 and 2024 in a trend known as the Great Flattening.

Of course, layoffs affect everyone at every age and in all sectors. Cobos was caught up in Amazon’s decision last fall to cut 14,000 jobs in order to boost spending on AI.

Verizon followed in November, announcing it would eliminate 15,000 jobs.

The bad news continued in January, as Meta announced it would lay off 10% of its workforce — currently 78,000 employees.

According to the AI-based startup Intellizense, there have already been 11 major layoffs this year from companies like Ericsson, Citi Group and Workday (5).

This is happening even as many traditional indicators point to normalcy and growth — a disconnect that is unparalleled, according to Jed Kolko, senior fellow at the Peterson Institute for International Economics.

“It's actually very hard to point to another moment in the last 25 years where you have the combination we see today,” he told the BBC (6).

Laura Ullrich, director of economic research at Indeed, told the New York Times the situation is due to economic uncertainty amid Trump’s tariff policy and government cuts (7).

“Having a very low-hire, low-fire, low-quits environment in a period of economic growth can only last so long,” she said.

But if you’re in the pool of unemployed Americans right now, or worry about your job security, what can you do now?

How to prepare financially for a potential layoff

Today, it takes an average six months to find a job, and the share of people who report looking for work for at least that long has increased over 50% since 2023, according to Fast Company (8).

Cobos was eligible for a fairly large severance package, so she felt justified in taking a few months off to clear her head. But now she’s actively looking for work.

While she projects she can make her savings and severance last about 10 to 12 months, she is feeling the pressure to find a new role soon in a market where success is a long road.

As Cobos advises, it’s wise to try to prepare for a layoff before you’re made redundant — especially if you’re a seasonal worker, self-employed or work in a volatile industry like Cobos.

As Ramsey Solutions suggests, getting ready means building up at least six months’ worth of emergency savings (8). This cushion can buy time, flexibility, and dignity after a layoff — keeping you from rushing into a new job that may pay less or be a step down the career ladder.