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Elon Musk will leave his post as Twitter CEO

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Elon Musk has officially vowed to step down as Twitter’s CEO, after millions cast their votes in an online poll

The world’s second-richest man has announced his resignation as the chief executive officer at Twitter.

Elon Musk left his fate to users on the social media platform in which 10 million voted for his resignation.

Over 17.6 million users responded to the poll, which asked whether he should quit as the head of Twitter—a role he has held for two months.

Once the results were in, Musk said he will step down once he finds “someone foolish enough” to take on the position.

“After that, I will just run the software and servers teams,” he said.

The multi-billionaire bought the company for $US44 billion. However, he has made several controversial decisions since he took over, including laying off half of Twitter’s existing staff; and policies around hate speech.

Dan Ives is the managing director at Wedbush Securities, who said the poll ends a nightmare situation on the platform.

“From the botched verification subscription plan to banning journalists to political firestorms caused on a daily basis, it’s been the perfect storm as advertisers have run for the hills and left Twitter squarely in the red.”

Musk’s Twitter takeover also led to sharp impacts for the carmaker, Tesla, which has he run since 2003.

“Attention focused on Twitter instead of golden child Tesla has been another big issue for investors and likely is behind this poll results with many Musk loyalists wanting him to leave as CEO of Twitter,” Mr Ives said.

Musk has sold millions in Tesla stock since he took the reigns of Twitter.

This will “be a major positive for Tesla’s stock starting to slowly remove this albatross from the story,” according to Mr Ives.

He believes it signals “Musk finally reading the room that has been growing frustration around this Twitter nightmare that grows worse by the day.”

Costa is a news producer at ticker NEWS. He has previously worked as a regional journalist at the Southern Highlands Express newspaper. He also has several years' experience in the fire and emergency services sector, where he has worked with researchers, policymakers and local communities. He has also worked at the Seven Network during their Olympic Games coverage and in the ABC Melbourne newsroom. He also holds a Bachelor of Arts (Professional), with expertise in journalism, politics and international relations. His other interests include colonial legacies in the Pacific, counter-terrorism, aviation and travel.

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Business

Amazon employees walk out to protest office policies

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Staff at warehousing giant Amazon have walked off the job to protest the company’s return-to-office program

Over 1,900 Amazon employees pledged to protest globally over proposed changes to the company’s climate policy, layoffs and a return-to-office mandate.

The activist group behind the rally is known as Amazon Employees for Climate Justice (AECJ), who are seeking a greater voice for employees.

“Our goal is to change Amazon’s cost/benefit analysis on making harmful, unilateral decisions that are having an outsized impact on people of color, women, LGBTQ people, people with disabilities, and other vulnerable people,” organisers said.

Over 100 people gathered at the heart of Amazon’s Seattle headquarters on Wednesday. The company said it had not witnessed any other demonstrations.

AECJ said the walkout comes after Amazon made moves “in the wrong direction”.

The company recently has recently overturned a desire to make all Amazon shipments net zero for carbon emissions by 2030.

The company maintains a pledge on climate change.

Amazon spokesperson Brad Glasser told Reuters the company is pursuing a strategy to cut carbon emissions.

“For companies like ours who consume a lot of power, and have very substantial transportation, packaging, and physical building assets, it’ll take time to accomplish.”

AECJ protesters also sought support for the 27,000 staff, who had lost their jobs in recent months —around 9 per cent of Amazon’s global workforce.

The company has also mandated a return-to-office program.

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Business

The Great Resignation vs. The Great Burnout

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As employees recover from the height of the pandemic, the Great Resignation has come to light

 
The pandemic saw the term ‘the great resignation’ coined as thousands of people resigned from their jobs across the U.S. in 2021 and 2022.

Karin Reed, the author of ‘Suddenly Hybrid said the great resignation was a period of employees taking control of their future.

“A lot of people realised in their current environment they were not happy with what they were doing with their job. They chose to vote with their feet and go elsewhere,

In other parts of the world, a spike in resignations was not reported.

However, a higher degree of workers began reporting post-Covid burnout, as they made a return to the office.

“There’s been a blurring of the lines. You have work that’s not confined by a physical space.

“Instead of closing the computer and walk away, our computer is in the next room.”

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Business

When will airfares begin to fall?

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As the global aviation market rebounds, airlines are changing their service offerings

 
Over 46 million workers in the global aviation sector lost their jobs as global aviation came to a grinding halt at the onset of the pandemic.

However, Geoffrey Thomas from AirlineRatings.com said passengers have returned to airport terminals and boarded flights in droves.

“When travelled returned, many of us wondered what sort of low airfares will we have to be charged to entice people back onto airplanes.”

In February 2023, total traffic (measured in revenue passenger kilometres) rose 55.5 per cent when compared to February 2022.

Globally, traffic is at 84.9 per cent of February 2019 levels.

“It was a stampede, the likes of which we have never seen before,” Mr Thomas said.

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