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World

Ukraine and Allies Call on Russia to Accept US Cease-Fire Proposal

by USNN World NewsMay 10, 2025May 10, 2025

Immigration

Judge Warns Trump’s Order May Violate Previous Ruling on Sanctuary Cities

by USNN World NewsMay 10, 2025May 10, 2025

Sports

Warriors’ Steph Curry Addresses Hamstring Injury: ‘Hopefully I’ll Be Back Soon’

by USNN World NewsMay 9, 2025May 9, 2025

National News

US Could Hit Debt Limit in August, Bessent Says

by USNN World NewsMay 9, 2025May 9, 2025

Japanese electronics manufacturer Panasonic plans to terminate 10,000 workers globally as part of a reform to resolve “structural issues,” the company said in a May 9 statement. The layoffs target 5,000 Japanese employees and 5,000 overseas workers at Panasonic’s consolidated companies. Job cuts are set to be implemented mainly in fiscal year 2026, “in accordance with the labor laws, rules, and regulations of each country and region.” “The company will thoroughly review operational efficiency at each Group company, mainly in sales and indirect departments, and reevaluate the number of organizations and personnel actually needed,” said the statement. Story continues below advertisement Panasonic will also terminate loss-making businesses that have “no prospect of improving profit.” “Through these measures, the company will optimize our personnel on a global scale,” it said. The layoffs are part of Panasonic’s broader management reform. The company is banking on these measures in fiscal 2026 to “resolve its various structural issues.” Related Stories Homes for Sale in Washington Surge 25 Percent Amid Federal Layoffs 5/8/2025 Homes for Sale in Washington Surge 25 Percent Amid Federal Layoffs Layoffs Drop, Jobless Claims Climb Ahead of April Jobs Report 5/1/2025 Layoffs Drop, Jobless Claims Climb Ahead of April Jobs Report The management reform seeks to improve profit by a minimum of 150 billion yen—roughly $1 billion—in fiscal year 2027 compared to fiscal 2025. For the current fiscal year 2026, Panasonic expects structural reforms to cost the company 130 billion yen, approximately $900 million. In an April 10 statement, Yuki Kusumi, the CEO of Panasonic Group, highlighted the need to change the organizational culture in the company. “There is a deep-rooted tendency toward following the established framework once a decision has been made. If we are going to improve the efficiency and quality of our work, then we must become an organization that is constantly changing, with each individual taking the initiative to make changes,” he said. “I believe we need to advance to the stage where change is considered a virtue. To achieve this, it is extremely important that we avoid being constrained by deeply ingrained behaviors.” The layoff announcement came on May 9 as Panasonic reported its consolidated financial results for fiscal year 2025, which ended on March 31. Story continues below advertisement Sales were at 8,458.2 billion yen, approximately $58 billion, down 0.5 percent from a year ago, which was partly due to the impact of deconsolidation in the company’s automotive segment, said the earnings report. Operating profit jumped 18 percent year-over-year, partly due to higher sales. According to Panasonic, the global economy experienced a gradual slowdown during the fiscal year ending March 31. For fiscal year 2026, net sales are expected to decrease, with operating profit also forecast to fall. Potential impacts of tariffs from the United States were not included in the forecast. “The company continues to monitor the tariff situation and aims to minimize the resulting impact by taking measures from both short-term and medium- to long-term perspectives,” Panasonic said. In January, Panasonic Well, a division of the company, announced a plan to create “the first comprehensive wellness ecosystem” for families. “Families are at their breaking point as chronic stress, disconnection, and fragmented wellness solutions are taking a toll, and the call for help is loud and clear,” the company said. Panasonic’s wellness solution is expected to aid families in dealing with wellness issues and “help modern families thrive.”

Economy

Panasonic Announces 10,000 Layoffs Worldwide

by USNN World NewsMay 9, 2025May 9, 2025

National News

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National News

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Sports

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World

Trump Says Upcoming US–China Trade Talks Could Result in Tariff Reductions

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Economy

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World

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NATIONAL NEWS

New York Stock Exchange Reverses Course Again, Will Delist 3 Chinese Telecom Firms After All

By Reuters The New York Stock Exchange said on Jan. 6 that it will delist three Chinese telecom companies beginning on Jan. 11, in another U-turn a ...

National Guard en Route to Capitol on Orders From Trump

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Arizona’s 11 Electoral Votes Challenged by GOP Senator, Reps During Joint Session

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Pence: Constitution ‘Constrains Me’ From Rejecting Electoral Votes

By Zachary Stieber Vice President Mike Pence on Wednesday said that he doesn’t believe he has the “unilateral authority” to decide between competing slates of electors. “It ...

Handful of States Begin Paying Out Extra $300 Weekly Jobless Benefit

By Tom Ozimek Around a dozen states have begun paying out the extra $300 per week in unemployment benefits that are part of the recently enacted COVID-19 ...

Trump: Pence ‘Has the Power to Reject Fraudulently Chosen Electors’

By Jack Phillips President Donald Trump asserted on Tuesday that Vice President Mike Pence has the power to reject electors that were fraudulently chosen, echoing statements made by his ...

Trump: ‘I Hope Mike Pence Comes Through for Us’

By Janita Kan President Donald Trump said on Monday that he hopes Vice President Mike Pence will do more than just carry out a ceremonial role ...

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By Jack Phillips Rep. Mo Brooks (R-Ala.) said Monday that he signed an objection to the electoral vote in six states ahead of the Joint Session of ...

Sen. Kelly Loeffler to Object to Electoral College Certification Process

By Mimi Nguyen Ly Sen. Kelly Loeffler (R-Ga.) announced on Monday that she will object to Electoral College votes when lawmakers gather for a joint session ...

Leaked Report Reveals ‘Systematic Malpractice’ in China’s Organ Transplant System: Expert

By Nicole Hau and Cathy He Evidence of large-scale forced organ harvesting has cast a shadow on China’s organ transplant system for more than a decade. Now an internal ...

Americans’ Distrust of Media Reaches New High, Gallup Says

By Matthew Vadum Americans’ distrust of mass media has reached a record high, with 33 percent of those polled by Gallup saying they had no confidence at all in ...

Pro-Trump Protest Organizers Announce New Details for Jan. 6

By Zachary Stieber People organizing pro-President Donald Trump protests in Washington for Jan. 6 announced new details over the weekend. Amy Kremer, a “March for Trump” ...