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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

  • Arizona Governor Signs Into Law Bills on Abortion, Transgender IssuesArizona Governor Signs Into Law Bills on Abortion, Transgender Issues
    By Mimi Nguyen Ly Arizona Gov. Doug Ducey signed into law three bills on Wednesday to restrict abortions, restrict gender reassignment surgeries, and block transgender athletes from ...
  • Election Watchdog Finds 137,500 Ballots Unlawfully Trafficked in WisconsinElection Watchdog Finds 137,500 Ballots Unlawfully Trafficked in Wisconsin
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  • Manchin Stakes Position Against Biden’s Proposed Billionaire TaxManchin Stakes Position Against Biden’s Proposed Billionaire Tax
    By Joseph Lord Sen. Joe Manchin (D-W. Va.) on Tuesday decried President Joe Biden’s recently-unveiled proposal to increase taxation on billionaires, saying that the plan ...
  • Senators Release Bank Records Showing Payments to Hunter Biden From ChinaSenators Release Bank Records Showing Payments to Hunter Biden From China
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  • Judge Blocks COVID-19 Vaccine Mandate for Entire NavyJudge Blocks COVID-19 Vaccine Mandate for Entire Navy
    By Zachary Stieber The U.S. military’s COVID-19 vaccine mandate has been blocked for all Navy members seeking religious exemptions. A preliminary injunction that previously covered 35 Navy SEALs now covers some 4,000 others. U.S. ...
  • ‘100 Percent’ Vaccinated Cruise Ship Hit With COVID-19 Outbreak‘100 Percent’ Vaccinated Cruise Ship Hit With COVID-19 Outbreak
    By Jack Phillips Princess Cruises confirmed that one of its cruise liners, the Ruby Princess, reported a COVID-19 outbreak before docking in San Francisco. The cruise operator requires ...
  • CIA Officer Who Signed Hunter Biden Laptop Letter Claims Credit for Trump LossCIA Officer Who Signed Hunter Biden Laptop Letter Claims Credit for Trump Loss
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  • Alabama Wine Shop Owner Files Lawsuit Against State After Losing Business During COVID LockdownsAlabama Wine Shop Owner Files Lawsuit Against State After Losing Business During COVID Lockdowns
    By Matt McGregor A former business owner in Alabama filed a lawsuit on March 19 against Republican Gov. Kay Ivey and state Health Director Scott Harris, alleging that the COVID-19 ...
  • Milwaukee Officials Sued in Zuckerberg-Related Election Bribery CaseMilwaukee Officials Sued in Zuckerberg-Related Election Bribery Case
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  • CDC, Other Health Agencies Won’t Provide Employee Vaccination Data From 2022CDC, Other Health Agencies Won’t Provide Employee Vaccination Data From 2022
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  • ‘Chaos in the Sky’: Commercial Airline Pilots File Their First Lawsuit Over Transportation Mask Mandate‘Chaos in the Sky’: Commercial Airline Pilots File Their First Lawsuit Over Transportation Mask Mandate
    By Patricia Tolson Hours after the U.S. Senate voted to repeal the federal transportation mask mandate—which the White House quickly threatened to veto—a group of ...
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