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Big Tech Layoffs In 2026: Meta, BlackRock, Citigroup Slash Jobs As Year Begins
Big Tech Layoffs In 2026: Meta, BlackRock, Citigroup Slash Jobs As Year Begins
Mark Zuckerberg-led Meta is set to reduce its workforce in the Reality Labs division with plans to cut around 10 per cent of jobs as part of an internal restructuring. According to a Bloomberg report, the layoffs are expected to take place later this week.
New Delhi: The wave of job cuts shows no sign of slowing down as 2026 begins. Even before January comes to an end, several global giants have announced large-scale layoffs echoing the trend that dominated much of 2025. Companies such as Meta, Citigroup and BlackRock have already trimmed their workforce. This affects thousands of employees across different roles. BlackRock was the latest to join the list this month, announcing plans to lay off hundreds of staff.
Here's a look at major companies around the world that have announced layoffs in 2026 so far:
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Mark Zuckerberg-led Meta is set to reduce its workforce in the Reality Labs division with plans to cut around 10 per cent of jobs as part of an internal restructuring. According to a Bloomberg report, the layoffs are expected to take place later this week.
The move comes as Meta looks to realign its investments, scaling back spending on some virtual reality products while increasing its focus on artificial intelligence. The company is reportedly redirecting resources towards AI-driven technologies, including smart wearables.
Banking major Citigroup is set to lay off around 1,000 employees this week as CEO Jane Fraser continues efforts to cut costs and improve returns. The Wall Street lender had about 227,000 employees as of the end of September, according to company data.
The latest round of job cuts is part of a broader restructuring plan announced two years ago, under which Citigroup aims to eliminate 20,000 roles by the end of 2026. Bloomberg reported the development citing people familiar with the matter.
“We will continue to reduce our headcount in 2026,” Citigroup said in a statement.
“These changes reflect adjustments we're making to ensure our staffing levels, locations and expertise align with current business needs; efficiencies we have gained through technology; and progress against our transformation work,” it added.
Since Jane Fraser took over as CEO in 2021, Citigroup has undergone a major overhaul, including exiting several international retail businesses and reshaping its core operations.
BlackRock has announced plans to cut hundreds of jobs, making it the latest Wall Street firm to reduce its workforce. The decision was confirmed on Monday.
According to a Bloomberg report, around 1 per cent of BlackRock's total workforce about 250 employees will be impacted across various divisions.
“Improving BlackRock is a constant priority. Each year, we make decisions to ensure that our resources are aligned with our objectives and that we are well-positioned to serve clients today and in the future," a BlackRock spokesperson said.
The layoffs come as the world's largest asset manager continues to shift its focus towards alternative investments under its chief executive's leadership.
Source: ZeeNews
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