Major corporations are continuing workforce reductions into 2026, with three prominent companies announcing significant layoffs in recent days. Meta, Citigroup, and BlackRock have collectively announced plans to eliminate thousands of positions as part of broader restructuring initiatives focused on cost control and strategic realignment.

Meta Restructures Reality Labs Division

Meta plans to reduce its Reality Labs workforce by 10% as the company shifts resources toward artificial intelligence development. According to Bloomberg reports, the job cuts are expected to be announced later this week as part of a strategic pivot away from certain virtual reality products toward AI wearables.

The restructuring follows previous directives from Mark Zuckerberg asking company executives to identify budget reductions within the Reality Labs division. This move represents a significant shift in the company's metaverse strategy as it reallocates resources to emerging AI technologies.

Citigroup Continues Multi-Year Reduction Plan

Citigroup will lay off approximately 1,000 employees this week as CEO Jane Fraser continues efforts to control costs and improve returns. The banking giant employed around 227,000 people at the end of September, making this reduction part of a larger transformation strategy.

The current layoffs represent progress toward Citigroup's plan announced two years ago to eliminate 20,000 jobs by the end of 2026. "We will continue to reduce our headcount in 2026," the company stated, explaining that changes reflect adjustments to align staffing levels with current business needs and technological efficiencies.

Under Fraser's leadership since 2021, Citigroup has undergone comprehensive restructuring, including exiting much of its international retail business and reorganizing core operations.

BlackRock Reduces Workforce by 1%

BlackRock announced plans to eliminate hundreds of positions across the company, affecting approximately 1% of its workforce. The reduction translates to around 250 employees across various divisions as the world's largest asset management company pursues strategic priorities.

"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," a company spokesperson stated.

The workforce reduction comes as BlackRock's leadership emphasizes expansion into alternative investments, requiring resource reallocation to support new strategic directions.

Industry-Wide Restructuring Trends

These announcements indicate that corporate restructuring trends from 2025 are extending into 2026. The layoffs reflect several common themes:

• Technology Integration: Companies are leveraging technological efficiencies to reduce workforce requirements
• Strategic Realignment: Organizations are shifting resources toward emerging sectors like AI and alternative investments
• Cost Management: Firms continue prioritizing operational efficiency and improved returns
• Market Adaptation: Companies are adjusting staffing levels to align with current business environments

The timing of these announcements in early 2026 suggests that workforce optimization remains a priority for major corporations as they navigate evolving market conditions and technological advancement opportunities.

Meta has appointed Dina Powell McCormick as president and vice chairman, bringing aboard a seasoned finance executive and former Trump administration adviser to guide the tech giant's strategic direction. The announcement, made on Monday, represents a significant leadership addition as Meta continues its multi-billion-dollar investments in artificial intelligence and platform expansion.

Executive Background and Qualifications

Powell McCormick brings extensive experience across finance and government sectors to her new role at Meta. Her professional background includes:

Strategic Role and Responsibilities

In her new management position, Powell McCormick will help guide Meta's overall strategy, with particular focus on executing the company's substantial investment initiatives. Meta CEO Mark Zuckerberg highlighted her qualifications in a statement, noting that her experience in global finance "combined with her deep relationships around the world" made her "uniquely suited to help Meta" in its future growth.

Powell McCormick was previously "deeply engaged" in accelerating Meta's artificial intelligence push across platforms during her time as a board director. This experience positions her well to oversee the company's continued AI development and implementation strategies.

Political and Industry Connections

The appointment has garnered immediate political attention, with President Trump endorsing the decision on his Truth Social platform. Trump called the move a "great choice" by Zuckerberg and noted that Powell McCormick had "served the Trump Administration with strength and distinction."

Powell McCormick's government experience spans two presidential administrations and includes work with the Republican National Committee. She served as a national security adviser at the start of Trump's first term and held positions in the White House and Secretary of State's office under President George W. Bush.

Personal and Professional Network

Powell McCormick is married to U.S. Senator David McCormick, who has his own extensive background in government and finance. Senator McCormick served in high-level positions in the Commerce and Treasury departments under President Bush before joining Bridgewater Associates, where he rose to become CEO.

Meta's Strategic Positioning

This appointment comes as Meta intensifies efforts to strengthen its relationship with the Trump administration. The company has made several moves to align with the current political landscape, including appointing Ultimate Fighting Championship CEO Dana White to its board last year. Zuckerberg has also engaged directly with Trump through White House meetings and has reinforced investment commitments worth hundreds of billions of dollars in the United States.

The addition of Powell McCormick to Meta's executive team reflects the company's focus on leveraging experienced leadership with strong government and finance backgrounds to navigate its ambitious growth and investment strategies in the evolving tech landscape.