Will Howard Marks be proven right?

AI credit risk reaches new high!
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Layoff Announcements in 2026:

1. UPS: 30,000 Employees
2. Oracle: 30,000 Employees
3. Amazon: 16,000 Employees
4. Omnicom: 15,000 Employees
5. Meta: 8,000 Employees
6. Microsoft: 4,800 Employees
7. Dow Chemical: 4,500 Employees
8. Cisco: Fewer Than 4,000 Employees
9. American Express: 3,840 Employees
10. Uber: 3,300 Employees
11. Renault: Up to 2,400 Employees
12. Nike: 1,400 Employees
13. General Motors: 1,300 Employees
14. Disney: 1,000 Employees
15. Citigroup: 1,000 Employees

The tech sector alone has seen 135,000 layoffs so far in 2026 across 330 companies.

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