Reality check on fusion fever | Zulily layoffs | Convoy CEO ‘heads down’ working on deal

Good day, GeekWire readers. In today’s installment, we do some number-crunching on Microsoft’s latest jobs data, hear from Convoy’s CEO about a potential deal, and get a reality check on the fervor over fusion. 

Fusion energy could provide a nearly infinite source of carbon-free power and help save the planet from climate change. And six Pacific Northwest companies are in the mix, chasing the elusive energy source. But billions of dollars and many decades into the tech, the key question remains: is fusion over-frothed and under-delivering, or are these sound bets with big payoffs around the corner? Read GeekWire’s reality check on fusion fever.

Zulily makes more workforce cuts: The Seattle-based e-commerce company has gone through multiple rounds of layoffs over the past year and a half, including two since the sale to a Los Angeles-based private equity firm. CEO Terry Boyle is leaving at the end of the month. Read more.

Microsoft’s headcount dropped to 215,500 people as of Sept. 30, a decline of more than 16,000 from its peak of 232,000 at the end of the 2022 calendar year — significantly exceeding the 10,000 job cuts announced by the company in January, GeekWire’s calculations show. 

• The cuts are part of a broader effort to keep costs in check as Microsoft looks for a new wave of growth from the cloud and artificial intelligence. Operating expenses rose just 1%, to $13.3 billion, in its quarterly report Tuesday. 

• For the quarter, the company reported profits of $22.3 billion, up 27%, on revenue of $56.5 billion, surpassing Wall Street’s expectations by both measures. Read more.

Convoy CEO Dan Lewis said he’s “heads down working on a deal” for the company’s tech and some employees, a week after the abrupt shutdown of the Seattle trucking marketplace. Read more.

Amazon earnings preview: Investors will be paying close attention to Amazon’s cloud business growth and any updates to the company’s AI strategy on Thursday after the release of its third quarter earnings report. Read more.

Hot Links:

• Amazon is considering offering veterinary telehealth in a bid to compete with Walmart and invest more heavily in the $137 billion pet market. (CNBC)

• Washington-based Coastal Community Bank finds itself in the middle of a fintech reckoning. (The Information)

• Redfin is changing the way it pays agents in San Francisco and Los Angeles, moving to a more typical commission structure. (Real Estate News)

• As Microsoft Word turns 40, the influence of the software has been pervasive across the way we write, work and communicate. (BBC)