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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Student Loan Delinquencies Soar as Pandemic-Era Protections Expire

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Economy

US Inflation Slows to Lowest Level Since February 2021

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Economy

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

Cox Automotive Says Tariffs Impacted Wholesale Used Car Prices in April

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NATIONAL NEWS

Kellyanne Conway says US should prioritize schools over bars in coronavirus plans

By Tyler Olson | Fox News ‘We need to have priorities in our states’ Counselor to the president Kellyanne Conway, on “Fox & Friends” Wednesday, seemed to back states that are ...

Thomas Sowell tells Mark Levin left-wing ideology ‘falls apart like a house of cards’ when you demand facts

By Joshua Nelson | Fox News Author and Hoover Institution senior fellow Thomas Sowell said on Tuesday that much of the left’s ideology “falls apart like a house of cards” ...

Never Trumpers cross line with party operatives by targeting GOP senators: ‘Taking it too far’

By Paul Steinhauser | Fox News ‘If they were just focused on Trump, that would be one thing’. The “Never Trump” coalition of Republicans fighting to oust President Trump from ...

Protesters set up guillotine in front of Jeff Bezos’ DC home

By Danielle Wallace | Fox News Protesters have set up a guillotine outside a Washington, D.C. complex where Amazon CEO Jeff Bezos purportedly resides, according to reports. Several videos circulated on social media showing what resembled the ...

Washington Post mocked for claiming Trump was wrong about violence in Dem-run cities: ‘Worst fact check ever’

By Brian Flood | Fox News The data essentially backed up the president’s case and the paper ran it anyway. The Washington Post was lampooned over the weekend for running a story claiming to ...

McEnany: Pelosi ‘playing politics’ with ‘false reporting’ on Russian bounties for US troops

By Joshua Nelson | Fox News President Trump late Sunday said U.S. intelligence could not confirm an explosive story that Russian military officials offered bounties to militants linked to ...

Nunes: Twitter, Google, Facebook are ‘tech tyrants’ that censor conservatives

By Ronn Blitzer | Fox News Rep. Devin Nunes, R-Calif., railed against Twitter, Google and Facebook tech giants, claiming they improperly wield power over the content Internet users view by ...

Missouri Democratic mayor accused of intimidating defund police protesters after reading names, partial addresses on livestream

By Danielle Wallace | Fox News St. Louis Mayor Lyda Krewson is accused of intimidating protesters after reading their names, partial addresses aloud on Facebook Live. St. Louis Mayor Lyda ...

John Bolton is a Dr. Strangelove throwback who set himself up as a White House warlord

By Peter Navarro | Fox News Everything Bolton pushed would have made America less peaceful or less prosperous. It would be a crime for former National Security Adviser ...

Biden VP hopeful Karen Bass slammed over past praise for Fidel Castro

By Dom Calicchio | Fox News Past praise for the late Cuban dictator Fidel Castro has some Miami-area Democrats worried about a lawmaker said to be in the running ...

Occupy City Hall grows in numbers as NYPD budget deadline looms

By Danielle Wallace | Fox News Protesters living in a tent encampment meant to Occupy City Hall kicked off their sixth consecutive day on Sunday taking up space in New ...

Trump signs executive order to protect American monuments, memorials and statues

By Morgan Phillips | Fox News Historic monuments and statues have become the targets of anger and vandalism during protests. President Trump announced Friday that he signed an executive ...