AI-driven layoffs wave accelerates across tech and financial services

2026 US layoffs exceed 200k; Oracle, Meta, Amazon, Microsoft, Visa, Intel, ServiceNow, and others cutting jobs citing AI. Microsoft's 4,800 cuts include US headcount down 3% to 121k; ServiceNow cuts up to 1K in measured rightsizing. Counter-narrative gains traction with studies showing no ROI, rehiring trends, and legal challenges. Visa's 2,600 cuts target engineers/product managers, expanding pattern into financial services. Intel continues cuts even in winning units under Lip-Bu Tan.