Several major global firms have already announced large-scale job cuts even before January has drawn to a close, signalling that the wave of layoffs seen through 2025 has carried into the new year. Companies such as Meta, Citigroup and BlackRock have confirmed plans to reduce their workforce, affecting thousands of roles across departments.
Among the latest to do so is BlackRock, which disclosed earlier this month that it will be trimming its staff strength by a few hundred positions, making it the most recent big-name employer to announce layoffs in January.
Here is an overview of prominent companies worldwide that have declared job cuts in 2026 so far —
Meta
Meta, led by Mark Zuckerberg, is preparing to cut about 10 per cent of employees in its Reality Labs division as part of a broader restructuring exercise aimed at prioritising artificial intelligence investments, according to a Bloomberg report.
People familiar with the matter said the layoffs are likely to be announced later this week, with the company planning to divert funds away from certain virtual reality products towards AI-powered wearable technologies. Zuckerberg had reportedly asked senior executives last year to identify areas for cost reduction within Reality Labs.
Citigroup
US banking major Citigroup is set to lay off nearly 1,000 employees this week as chief executive Jane Fraser continues efforts to rein in expenses and boost profitability. The lender had a workforce of about 227,000 employees as of the end of September, based on company disclosures.
These cuts are part of a long-term restructuring plan unveiled two years ago, under which Citigroup aims to eliminate 20,000 roles by the end of 2026, Bloomberg reported citing sources.
In a statement, the bank said it would continue reducing headcount this year, adding that the changes are intended to better align staffing, locations and skill sets with business needs, while also reflecting efficiencies gained through technology and progress made in its transformation programme. Since Fraser took charge in 2021, Citigroup has exited several overseas retail markets and overhauled key parts of its operations.
BlackRock
Asset management giant BlackRock said on Monday that it will cut hundreds of jobs across its global operations, joining a growing list of Wall Street firms announcing workforce reductions. Bloomberg reported that the move will affect roughly 1 per cent of the company’s employees, or about 250 roles across teams.
A company spokesperson said BlackRock routinely reviews its structure to ensure resources are aligned with strategic goals and client needs, both in the present and for the future. The decision comes as the firm’s leadership continues to push for a stronger focus on alternative investments.