Meta, BlackRock, Citigroup to Layoff Hundreds as Cost-Cutting and Restructuring Intensify

January hasn't even ended yet, and at least three major corporations have recently announced widespread layoffs. Giants including Meta, Citigroup, and BlackRock have laid off thousands of employees in a variety of roles, suggesting that the job loss trend that swept through 2025 has continued into 2026, at least for the time being.

BlackRock said that it would be laying off hundreds of workers, making it the most recent major employer to announce job cuts this month. The following is a list of significant global corporations that have declared layoffs for 2026:

Meta Aiming for 10% Layoffs

The Reality Labs division of Mark Zuckerberg's Meta is set to lay off 10% of its employees. According to Bloomberg, the company plans to restructure by investing more in AI. According to the article, Meta plans to slash jobs later this week in order to reallocate funds from some virtual reality products to other AI wearables. Mark Zuckerberg had requested last year that corporate leaders search for ways to trim the Reality Labs' funding.

Citigroup to Fire Around 1000 Employees

In an effort to reduce expenses and boost profits, CEO Jane Fraser of the banking giant Citigroup plans to fire approximately 1,000 workers this week. The Wall Street bank employed approximately 227,000 individuals as of the end of September, according to the data it provided. According to Bloomberg, Citigroup's most recent round of layoffs is part of the company's goal to remove 20,000 jobs by the end of 2026, which was disclosed two years ago. In a statement, Citigroup stated that it will keep cutting employees in 2026.

These modifications reflect the brand's efforts to make sure that its locations, expertise, and staffing levels meet the demands of the business today. Moreover, they also reflect the efficiencies that the group has achieved through technology and the advancement of its transformation efforts. After Fraser became CEO in 2021, Citigroup underwent a comprehensive reorganisation. The revamping included restructuring its main business and selling off a large portion of its global retail division.

BlackRock Layoffs

On December 12, BlackRock said that it would lay off hundreds of workers within the organisation. Hence, this move makes it the most recent Wall Street corporation to do so. Approximately 1% of BlackRock's staff, or 250 workers across all divisions, will be let go as a result of the layoffs.

Speaking to a media outlet, a BlackRock representative stated that the company's continuous improvement is a top focus. The business makes choices every year to make sure that its resources are in line with its goals and that they are in a good position to serve customers both now and in the future. The action coincides with the CEO of the biggest asset management firm in the world advocating for alternative investments.