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Layoffs 2026: Meta, BlackRock, Citigroup Begin Year With Hundreds Of Job Cuts
Layoffs 2026: Meta, BlackRock, Citigroup Begin Year With Hundreds Of Job Cuts
At least three major global companies have announced fresh job cuts in recent days, even before January has ended
Layoffs in 2026: At least three major global companies have announced fresh job cuts in recent days, even before January has ended. The wave of layoffs that dominated 2025 appears to have spilled into 2026, with corporate giants such as Meta, Citigroup and BlackRock cutting thousands of jobs across functions.
The latest announcement came from BlackRock, which said it will lay off hundreds of employees this month.
Mark Zuckerberg-led Meta is planning to cut 10 percent of its workforce in the Reality Labs division as part of a restructuring aimed at redirecting investments toward artificial intelligence, Bloomberg reported.
According to the report, citing a person familiar with the matter, the layoffs are expected later this week. The company is shifting funds away from certain virtual reality products and toward AI-powered wearables.
Last year, Zuckerberg had asked senior executives to identify budget reductions within the Reality Labs unit.
Banking giant Citigroup is set to lay off around 1,000 employees this week as Chief Executive Officer Jane Fraser continues efforts to control costs and improve returns. Citigroup had about 227,000 employees at the end of September, according to company disclosures.
The job cuts are part of a broader restructuring plan announced two years ago to eliminate 20,000 roles by the end of 2026, Bloomberg reported, citing sources.
“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,” the bank added.
Since Fraser took over in 2021, Citigroup has exited much of its international retail business and overhauled its core operations.
BlackRock announced on Monday that it will cut hundreds of jobs, becoming the latest Wall Street firm to reduce its workforce.
According to Bloomberg, about 1 percent of BlackRock's workforce — roughly 250 employees — will be affected across 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 move comes as the chief executive of the world's largest asset manager continues to push the firm deeper into alternative investments.
Source: News18
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