Job cuts return in 2026 as Meta, Citigroup, BlackRock announce fresh layoffs worldwide

Several major corporations have announced large-scale job cuts in recent days, even before January has drawn to a close. The wave of layoffs that defined much of 2025 appears to have carried into the new year, with companies such as Meta, Citigroup and BlackRock confirming reductions across departments. Among the latest announcements, BlackRock said it would trim its workforce by several hundred employees this month.

Below is an overview of prominent global firms that have reported layoffs in 2026 so far.

Meta

Meta, led by founder Mark Zuckerberg, is preparing to reduce about 10 per cent of staff within its Reality Labs division as part of a restructuring effort aimed at redirecting investment toward artificial intelligence, according to a Bloomberg report. Sources familiar with the matter said the cuts are expected later this week, as the company scales back spending on certain virtual reality products to focus on AI-driven wearables. The move follows internal discussions last year, when Zuckerberg reportedly asked senior leaders to identify areas for budget tightening within Reality Labs.

Citigroup

Citigroup is set to eliminate roughly 1,000 positions this week as chief executive Jane Fraser continues efforts to rein in costs and boost profitability. The bank had a workforce of about 227,000 employees at the end of September, according to company data. This round of job cuts is part of a broader restructuring plan unveiled two years ago, under which Citigroup aims to shed 20,000 roles globally by the end of 2026. Confirming the ongoing reductions, the bank said it would continue lowering headcount through this year, citing changes made to better match staffing, locations and skills with current business requirements, alongside efficiency gains from technology and progress in its transformation strategy. Since Fraser took charge in 2021, the lender has exited several overseas retail operations and reorganised its core businesses.

BlackRock

Asset management giant BlackRock said on Monday that it will cut hundreds of jobs across the firm, becoming the latest Wall Street heavyweight to announce workforce reductions. Bloomberg reported that the layoffs will affect about one per cent of the company’s employees, or roughly 250 roles across teams. A spokesperson said the firm regularly reviews how resources are allocated to ensure alignment with long-term goals and client needs. The decision comes as BlackRock’s leadership continues to push deeper into alternative investments under its broader strategic shift.