Economy - USNN World News

Economy

Senate Passes ‘No Tax on Tips Act’ in Unanimous Vote

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Economy

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The Fed Fears Inflation While Ignoring Deflation

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US Inflation Slows to Lowest Level Since February 2021

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Markets Rally After US, China Announce 90-day Tariff Reductions

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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.”

Economy

Panasonic Announces 10,000 Layoffs Worldwide

by USNN World NewsMay 9, 2025May 9, 2025

Economy

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NATIONAL NEWS

Republicans demand answers on Mueller team wiping phones, suggest ‘anticipatory obstruction of justice’

By Brooke Singman | Fox News Congressional Republicans call the purported accidental ‘wiping’ an ‘amazing coincidence’. Congressional Republicans demanded answers on Friday as to whether there “was a ...

Libertarians pick first female presidential nominee

By Paul Steinhauser | Fox News Newly minted Libertarian Party presidential nominee Jo Jorgensen is touting that she’s the “freedom” candidate. “The choice isn’t one or the other but the ...

CBS reporter tweets about Biden not ‘outworking’ Trump

By Morgan Phillips | Fox News CBS reporter Kathryn Watson questioned why Joe Biden wasn’t campaigning more after news broke that the former vice president was not expected to ...

Data shows that half of 2019 donations to ActBlue came from untraceable ‘unemployed’ donors

By Hollie McKay | Fox News A Take Back Action Fund analysis of $400M in donations to liberal causes raises red flags of possible foreign involvement. Less than ...

Never Forget – We Remember

By NH POLITICIAN The September 11 attacks (often referred to as 9/11) were a series of four coordinated terrorist attacks by the Islamist terrorist group al-Qaeda against the United States on the morning of Tuesday, ...

Texas police group warns drivers to ‘enter at your own risk’ after Austin cuts police funding

By Morgan Phillips | Fox News ‘Limited support next 20 miles,’ one sign reads. A Texas police group has put up billboards on Austin city limits warning drivers that the city had ...

Left-wing dark money groups to ‘carpet-bomb’ 2020 election, report warns

By Adam Shaw | Fox News Report says network’s revenues eclipse those of conservative groups such as the Heritage Foundation. A network of left-wing groups with budgets eclipsing ...

Biden spokesman refuses to discuss whether former VP used teleprompter to answer questions

By Sam Dorman | Fox News ‘This is straight from the Trump campaign talking points,’ TJ Ducklo tells Bret Baier. Former Vice President Joe Biden’s national press secretary attempted to deflect a ...

Trump reacts to ‘great honor’ of Nobel Peace Prize nomination, calls it ‘great thing for our country’

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Trump speech at Michigan rally interrupted by ‘We love you’ chant

By Edmund DeMarche | Fox News A crowd had a similar chant recently in North Carolina. President Trump’s speech during a rally on Thursday in Freeland, Mich., was briefly interrupted ...

Critics blast CNN’s Jake Tapper for ‘lying’ after claim about GOP candidate Sean Parnell

By Joseph A. Wulfsohn, Brian Flood | Fox News Ric Grenell published Tapper’s denial that was made in a direct message on Twitter. CNN anchor Jake Tapper is facing criticism for ...

Trump challenges Woodward for sitting on coronavirus quotes

By Brooke Singman | Fox News ‘He knew they were good and proper answers,’ president tweets. President Trump on Thursday challenged Bob Woodward, questioning why the veteran journalist didn’t report his ...