Big Companies Continue Layoffs Through 2026
Several major companies have announced large-scale job cuts, indicating that the trend of layoffs observed in 2025 has persisted into 2026. Major players such as Meta, Citigroup, and BlackRock are downsizing their workforce across various positions as they undergo restructuring and realign their priorities. BlackRock has recently announced plans to cut hundreds of jobs worldwide. A detailed examination of the significant layoffs that have occurred this year. Meta is set to reduce its workforce by approximately 10 percent in its Reality Labs division, which is dedicated to the metaverse and virtual reality products, according to a report.
The division employs approximately 15,000 individuals, and the reductions may have a disproportionate impact on those involved in VR headsets and a VR-centric social network. It is anticipated that the layoffs may be announced later this week. Meta’s total workforce is 78,000, representing only a small portion of its overall headcount. The reduction may affect over 10 percent of Reality Labs personnel. Andrew Bosworth has called an in-person meeting for Wednesday, describing it as the “most important” of the year, according to a memo. Mark Zuckerberg, Meta’s CEO, directed senior executives last year to cut their budgets for 2026 while boosting investment in artificial intelligence. Meta is encountering increasing competition from firms such as OpenAI and Google, leading to further investment in its skunk works division, TBD Lab, which is working on a superintelligent AI system.
Citigroup is set to cut 1,000 jobs this week as part of a restructuring initiative initially revealed in 2023, according to a report. The bank plans to cut a total of 20,000 jobs by the end of 2026. “We will continue to reduce our headcount in 2026,” Citigroup stated. “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.” In September 2023, Citibank initiated a significant reorganization, streamlining management layers and promoting leaders within its five primary business divisions. CEO Jane Fraser, who assumed her role in 2021, stated, “I am determined that our bank will deliver to our full potential, and we’re making bold decisions to meet our commitments to all our stakeholders.”
BlackRock Inc. has become the latest firm to implement workforce reductions, laying off approximately 1 percent of its global staff, which amounts to around 250 employees. This includes individuals from its investment and sales teams, as reported. The job reductions occur as CEO Larry Fink persists in reshaping the world’s largest asset manager and broadening its emphasis on alternative investments. After its $12 billion acquisition of private credit specialist HPS Investment Partners in July, BlackRock has been bringing in new executives and gearing up to launch a new array of funds aimed at affluent retail clients. BlackRock executed two rounds of job reductions last year, eliminating approximately 1 percent of its workforce during each instance. As of September 2025, the firm employed approximately 24,600 individuals and oversaw assets totaling $13.5 trillion.
