Microsoft laying off thousands

Microsoft is kicking off its fiscal year by laying off thousands of employees in the largest round of layoffs since 2023, the company confirmed Wednesday.

In an ongoing effort to streamline its workforce, Microsoft said as much as 4%, or roughly 9,000, of the company’s employees could be affected by Wednesday’s layoffs.

Microsoft said the cuts would include multiple divisions across the company but did not specify early Wednesday which teams would bear the brunt. Reports over the past two weeks from Bloomberg said sales and marketing employees, as well as gaming workers, would be heavily affected.

Wednesday’s move follows two waves of layoffs in May and June, which saw Microsoft fire more than 6,000 employees.

Del Monte files bankruptcy

Del Monte Foods, the 139-year-old company best known for its canned fruits and vegetables, is filing for bankruptcy protection as U.S. consumers increasingly bypass its products for healthier or cheaper options.

Del Monte has secured $912.5 million in debtor-in-possession financing that will allow it to operate normally as the sale progresses.

“After a thorough evaluation of all available options, we determined a court-supervised sale process is the most effective way to accelerate our turnaround and create a stronger and enduring Del Monte Foods,” CEO Greg Longstreet said in a statement.

Del Monte Foods, based in Walnut Creek, California, also owns the Contadina tomato brand, College Inn and Kitchen Basics broth brands and the Joyba bubble tea brand.

“Consumer preferences have shifted away from preservative-laden canned food in favor of healthier alternatives,” said Sarah Foss, global head of legal and restructuring at Debtwire, a financial consultancy.

— Boston Herald Wire Services