Tata Consultancy Services (TCS) has sent shockwaves across the industry by announcing its plan to cut 12,000 jobs globally by FY26. The IT giant has announced to reduce its workforce by 2% in one of the biggest-ever layoffs in the company’s history.The layoffs will mainly affect mid-to-senior-level employees globally.However, TCS is not the only company to announce job cuts. Amid the rise of AI and changing business models, layoffs have impacted thousands of workers in IT and other sectors.While experts have frequently advised employees on upgrading skills to meet the demands of evolving business environments, there is another aspect of this development: financial security.Amid the rising layoffs in the private sector, employees need to remain prepared more than ever. In the event of an unexpected layoff, here’s what you can do to avoid a financial crisis:TCS Plans To Trim Around 12,000 Jobs, Cut Workforce By 2% In FY26Simple Steps To Avoid Financial Crisis Post Job Loss1. Build an emergency fund: It is important to build an emergency fund that can cover at least three months of essential expenses. These can include rent, utilities, groceries, EMIs and other bills. This safety net helps to stay financially secure during job loss.2. Cut down non-essential spending: During such periods of uncertainty, it is advisable to re-assess your financial situation. Analyse your spending habits and cut down on unnecessary expenses such as OTT subscriptions or dining out.3. Support packages like employment insurance: Some insurers offer insurance policies aimed at protecting you during job loss. You can opt for any such policies offered by general insurers to get much-needed financial support in case of a layoff. 4. Make use of additional skills: If you have any hobbies such as writing, coding, design, or even teaching, you can use them to earn freelance income while you are looking for a full-time job.5. Sell what you do not need: You may decide to sell unused items such as electronics, furniture, or gadgets. This can help you declutter your house while earning some quick cash.A little planning and financial discipline can help you navigate a potential crisis in case of a layoff. It’s always advisable to upgrade your skills as per industry trends and remain financially prepared to deal with any unexpected event. . Read more on Personal Finance by NDTV Profit.