2026 Layoffs Begin with Major Corporate Job Cuts
January 2026 is not even over yet, but at least three large companies have already announced mass layoffs in recent days. The job loss trend that gripped 2025 appears to have entered the new year too. Giants like Meta, Citigroup, and BlackRock are laying off thousands of staff across various roles.
BlackRock announced the most recent job cuts this month. The firm said it will let go hundreds of employees.
Meta Plans Workforce Reduction in Reality Labs
Mark Zuckerberg's Meta is planning to cut 10% of its workforce in the company's Reality Labs sector. Bloomberg reported this news. The company plans to restructure to put more money into artificial intelligence.
A person familiar with the development said the Meta job cuts are expected later this week. The company wants to shift money away from some virtual reality products. It aims to invest in other AI wearables instead.
Last year, Mark Zuckerberg asked company executives to look for budget reductions within Reality Labs. This move is part of that effort.
Citigroup Targets Around 1,000 Job Cuts
Banking major Citigroup is about to lay off around 1,000 employees this week. CEO Jane Fraser seeks to control costs and improve returns at the company. The Wall Street bank had around 227,000 employees at the end of September.
The latest round of layoffs at Citigroup comes as part of a larger plan. The company announced two years ago that it would eliminate 20,000 jobs by the end of 2026. Bloomberg reported this, quoting people in the know.
Citigroup said in a statement, "We will continue to reduce our headcount in 2026." The company added, "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."
Under Fraser, who took over as CEO in 2021, Citigroup has seen a company-wide revamp. It exited much of its international retail business and restructured its core operations.
BlackRock Fires Hundreds of Employees
BlackRock said on Monday that it will fire hundreds of employees across the company. This makes it the latest Wall Street firm to announce job cuts.
According to a Bloomberg report quoting people in the know, the BlackRock layoffs will affect around 1% of its workforce. This translates to approximately 250 employees across divisions.
A BlackRock spokesperson told Bloomberg, "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."
The move comes as the CEO of the world's largest asset management company pushes for alternative investments.
Key Takeaways from the Layoff Trend
- The trend of layoffs is persisting from 2025 into 2026. This indicates ongoing economic challenges for many sectors.
- Companies are actively restructuring their operations. They focus on technology and efficiency to remain competitive in a tough market.
- Major firms are prioritizing investments in AI and alternative sectors. At the same time, they are downsizing traditional roles to cut costs.
