Clouds of layoffs loom again at the start of the year. Multiple multinational companies have announced they will be downsizing their workforce in 2026 as well. In 2025, several IT companies went down the path of layoffs. The same picture emerges this year – according to media reports, multinational companies including Meta, Citi Group and BlackRock have announced workforce reductions. BlackRock is the latest addition to the list of companies embarking on layoffs.
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Layoffs at Meta:
Mark Zuckerberg's company has decided to lay off 10 percent of its workforce. According to Bloomberg's report, layoffs will be made from the company's Reality lab Sector, while more investment will be made in AI instead. Last year itself, Zuckerberg had instructed the company's management to cut the Reality lab budget.
Layoffs at Citigroup:
Major banking sector company Citigroup has also announced plans to lay off at least 1,000 employees. Company CEO Jane Fraser has stated that this step is being taken with the aim of reducing costs and increasing the company's profit margins. Media reports indicate that as of last September, this bank had 2,27,000 employees. According to Bloomberg's report, the company had set a target two years ago to reduce 20,000 employees by the end of 2026.
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Layoffs at BlackRock:
Recently, the world's largest asset management company BlackRock has also announced that it is planning to lay off several hundred employees. According to Bloomberg's report, BlackRock will lay off 1 percent of its total workforce. Various reports suggest that 250 employees across all divisions may be removed. The company has stated that this decision is aimed at improving the company's services and health.
