In the present corporate set-up, layoffs are an unfortunate yet common occurrence. Such occurrences lead to loss of job security and can have dire consequences on an individual's mental health, leading to depression. Depression was a global health concern well before the current downsizing came into the picture. These trying times have acted as a catalyst for this illness that affects not just mental health but all aspects of an individual’s life. The study investigates the use of sentiment analysis on LinkedIn data to identify and examine depressive tendencies among victims of layoffs. Web-scraped information was taken from LinkedIn profiles of individuals affected directly or indirectly by layoffs. RoBERTa, a transformers model, is used to classify people as depressed or not by evaluating sentiment and emotional cues. A comparison between four machine learning algorithms- Decision Tree, Logistic Regression, SVM, and Naïve Bayes is drawn to check their ability to detect depression. The SVM classifier performed best with an accuracy of 95.59% and 83.52% with the CountVectorizer and TF-IDF feature selection methods, respectively. Sentiment analysis aids in this research by examining the melancholic undertones in the words and phrases used in texts authored by people affected by layoffs directly or indirectly. The knowledge gained from this research can significantly affect corporate initiatives, mental health services, and human resource practices during such challenging times.