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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.”
Posted inEconomy

Panasonic Announces 10,000 Layoffs Worldwide

USNN World Newsby USNN World NewsMay 9, 2025May 9, 2025
DHS Says House Democrats and Protesters ‘Stormed’ ICE Detention Center
Posted inNational News

DHS Says House Democrats and Protesters ‘Stormed’ ICE Detention Center

USNN World Newsby USNN World NewsMay 9, 2025August 20, 2025
FEMA Confirms Acting Administrator Hamilton Has Been Replaced
Posted inNational News

FEMA Confirms Acting Administrator Hamilton Has Been Replaced

USNN World Newsby USNN World NewsMay 9, 2025August 19, 2025
Sheriff Scheffler’s Seismic Resurgence: First 2025 Win Secured, PGA Championship Looming
Posted inSports

Sheriff Scheffler’s Seismic Resurgence: First 2025 Win Secured, PGA Championship Looming

USNN World Newsby USNN World NewsMay 8, 2025May 8, 2025
Trump Says Upcoming US–China Trade Talks Could Result in Tariff Reductions
Posted inWorld

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

USNN World Newsby USNN World NewsMay 8, 2025May 8, 2025
Cox Automotive Says Tariffs Impacted Wholesale Used Car Prices in April
Posted inEconomy

Cox Automotive Says Tariffs Impacted Wholesale Used Car Prices in April

USNN World Newsby USNN World NewsMay 8, 2025May 12, 2025
What We Know About the India–Pakistan Conflict
Posted inWorld

What We Know About the India–Pakistan Conflict

USNN World Newsby USNN World NewsMay 8, 2025June 26, 2025
Robert Francis Prevost Elected as First American Pope
Posted inBreaking News

Robert Francis Prevost Elected as First American Pope

USNN World Newsby USNN World NewsMay 8, 2025May 8, 2025
Police Arrest Pro-Palestinian Protesters Occupying Columbia University Library
Posted inBreaking News

Police Arrest Pro-Palestinian Protesters Occupying Columbia University Library

USNN World Newsby USNN World NewsMay 8, 2025May 26, 2025
Trump Announces ‘Full And Comprehensive’ Trade Agreement With UK
Posted inBreaking News

Trump Announces ‘Full And Comprehensive’ Trade Agreement With UK

USNN World Newsby USNN World NewsMay 8, 2025June 7, 2025
Army Presents Congress With Plan to Reorganize Fighting Forces, Adapt to Changing Battles
Posted inNational News

Army Presents Congress With Plan to Reorganize Fighting Forces, Adapt to Changing Battles

USNN World Newsby USNN World NewsMay 7, 2025May 7, 2025
How Major US Stock Indexes Fared May 7
Posted inEconomy

How Major US Stock Indexes Fared May 7

USNN World Newsby USNN World NewsMay 7, 2025May 7, 2025

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NATIONAL NEWS

  • Al Sharpton: Defunding police is something ‘a latte liberal’ may like, but ‘proper policing’ is necessaryAl Sharpton: Defunding police is something ‘a latte liberal' may like, but ‘proper policing’ is necessary
    By Brian Flood | Fox News ‘On the ground it is certainly feeling more violent, feeling more unsafe in unsafe communities,’ he said. MSNBC’s Al Sharpton said Tuesday that defunding the NYPD is ...
  • Biden’s ‘mental acuity’ has diminished in the last 4 years, ex-WH stenographer says: ‘He’s lost a step’Biden's 'mental acuity' has diminished in the last 4 years, ex-WH stenographer says: 'He's lost a step'
    By Alana Goodman | Washington Free Beacon Mike McCormick calls Biden’s public speaking ability ‘a complete difference’ compared to 2017. Joe Biden’s former White House stenographer said the vice president’s public ...
  • Trump slams Democrats over ‘thuggery’ as video appears to show protesters harassing elderly coupleTrump slams Democrats over 'thuggery' as video appears to show protesters harassing elderly couple
    By Ronn Blitzer | Fox News Trump has blamed Democrats for turning a blind eye to violence. President Trump responded to a viral video in which protesters in Pittsburgh appear to ...
  • Secretaries of states caution that election results could take weeks to determineSecretaries of states caution that election results could take weeks to determine
    By Andrew O’Reilly | Fox News Election officials across the country are making contingency plans should counting ballots accurately become difficult. A number of secretaries of states warned ...
  • Young Black voters not excited about Joe Biden-Kamala Harris ticket, analyst saysYoung Black voters not excited about Joe Biden-Kamala Harris ticket, analyst says
    By Joshua Nelson | Fox News ‘I don’t understand how anyone could be thinking he could fix the injustices when he was the one who created them,’ ...
  • Gender-reveal pyrotechnic sparked massive El Dorado fireGender-reveal pyrotechnic sparked massive El Dorado fire
    By David Aaro | Fox News ‘Those responsible for starting fires due to negligence or illegal activity can be held financially and criminally responsible’. A smoke generating pyrotechnic ...
  • Protesters gather at SF home of Nancy Pelosi, hang up hair curlers after salon visitProtesters gather at SF home of Nancy Pelosi, hang up hair curlers after salon visit
    By David Aaro | Fox News Some of the protesters were described as angry salon customers, reports said. More than a dozen protesters gathered outside the San Francisco home of House Speaker Nancy ...
  • ‘Democrats should be scared about Michigan,’ state’s House speaker says'Democrats should be scared about Michigan,' state's House speaker says
    By Talia Kaplan | Fox News Biden is scheduled to visit the state on Wednesday. “Democrats should be scared about Michigan,” the state’s Republican House speaker, Lee Chatfield, told “Fox & ...
  • GOP candidate says ‘crazy’ urban liberals driving people to Trump in this stateGOP candidate says 'crazy' urban liberals driving people to Trump in this state
    By Caleb Parke | Fox News Jason Lewis says state could turn red for the first time in nearly a half-century. President Trump could flip Minnesota — a state that has been blue ...
  • Anti-Trump group calls for nationwide protests in 23 citiesAnti-Trump group calls for nationwide protests in 23 cities
    By Adam Shaw | Fox News An anti-Trump group is calling for nationwide protests on Saturday — seeking to fuel the left-wing protests that have roiled the country throughout the ...
  • Devine says Dems have no intention of accepting second Trump termDevine says Dems have no intention of accepting second Trump term
    By Caleb Parke | Fox News ‘If you think that they were sore losers in 2016, you ain’t seen anything yet,’ columnist says. Democrats are threatening violence if Joe Biden does not ...
  • Democrats project campaign messages on Trump Hotel in DCDemocrats project campaign messages on Trump Hotel in DC
    By Marisa Schultz, Paul Steinhauser | Fox News DNC targets hotel following Atlantic article. Democrats targeted the Trump Hotel in Washington D.C. Friday night for a campaign stunt to draw ...
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