Meta, Citi, BlackRock announce hundreds of job cuts

New Delhi: At least three major global companies have announced fresh job cuts in recent days, signalling that the layoff wave that defined 2025 is continuing into 2026, with thousands of roles set to be eliminated across functions.

The latest move came from BlackRock, which said it will lay off hundreds of employees this month. Bloomberg reported that about 1 per cent of the world’s largest asset manager’s workforce, or 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 spokesperson said. The cuts come as the chief executive pushes deeper into alternative investments.

Meta is also preparing reductions, with Bloomberg reporting that Mark Zuckerberg-led Meta plans to cut 10 per cent of the workforce in its Reality Labs division. The layoffs are expected later this week as part of a restructuring designed to redirect investments from certain virtual reality products toward artificial intelligence, including AI-powered wearables. Zuckerberg had last year asked senior executives to identify budget reductions within the unit. Meanwhile, Citigroup is set to lay off around 1,000 employees this week as CEO Jane Fraser continues efforts to control costs and improve returns. Citi had about 227,000 employees at the end of September. “We will continue to reduce our headcount in 2026,” Citigroup said, adding the changes reflect staffing realignment, technology efficiencies and progress in its transformation.