If you work in banking or asset management, 2026 has already delivered its first warning: no sector is safe.
Citigroup is cutting approximately 1,000 jobs this week, part of a multi-year restructuring programme that will see 20,000 roles eliminated — roughly 10% of its workforce — by the end of the year. Meanwhile, BlackRock, the world's largest asset manager, confirmed it will cut around 250 employees, marking its third round of layoffs within 12 months, according to Bloomberg.
