Economy - USNN World News

Economy

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

by USNN World NewsMay 21, 2025May 21, 2025

Economy

New Vehicle Inventory in April Declines, Affordability Worsens: Cox Automotive Analysis

by USNN World NewsMay 19, 2025May 19, 2025

Economy

Market Review: Stocks Roar Back in 5-Day Winning Streak

by USNN World NewsMay 18, 2025May 18, 2025

Economy

Moody’s Strips US of Final AAA Rating Over Rising Debt, Interest Costs

by USNN World NewsMay 17, 2025June 4, 2025

Economy

US Pending Home Sales Dip By 3.4 Percent to ‘Lowest Level on Record’: Report

by USNN World NewsMay 15, 2025May 15, 2025

Economy

The Fed Fears Inflation While Ignoring Deflation

by USNN World NewsMay 14, 2025May 14, 2025

Economy

Student Loan Delinquencies Soar as Pandemic-Era Protections Expire

by USNN World NewsMay 13, 2025May 13, 2025

Economy

US Inflation Slows to Lowest Level Since February 2021

by USNN World NewsMay 13, 2025May 13, 2025

Economy

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

by USNN World NewsMay 12, 2025May 12, 2025

Economy

Market Review: Stocks Retreat on Fed Caution and Trade Uncertainty

by USNN World NewsMay 10, 2025May 10, 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

Economy

Cox Automotive Says Tariffs Impacted Wholesale Used Car Prices in April

by USNN World NewsMay 8, 2025May 12, 2025

NATIONAL NEWS

Mark Sanford announces Trump primary challenge: GOP ‘has lost our way’

By Ronn Blitzer | Fox News Former South Carolina Gov. Mark Sanford announced Sunday that he is running for president as a Republican, becoming the latest to challenge President ...

Maine set to become first state to allow ranked voting in presidential election

By Vandana Rambaran | Fox News Maine is poised to become the first state in the country to implement a system allowing voters to rank candidates in presidential elections. Democratic ...

Trump blasts ‘totally illegal’ DACA order, says Obama didn’t have the right to sign it

By Adam Shaw | Fox News President Trump on Friday said that the Obama-era executive order granting protections to some immigrants who came to the country as minors was a ...

Outgoing CNN contributor Eliana Johnson questions network’s decision to send her packing

By Brian Flood | Fox News Soon-to-be former CNN on-air contributor Eliana Johnson questioned the rationale of an executive at the liberal network who said she was no longer needed because ...

Senator Sanders’ plan to fight climate change with ‘Third World population control…is disgusting’: Stuart Varney

By Matt London | Fox News Fox Business Network host Stuart Varney blasted 2020 Democratic Presidential candidate and Vermont Senator Bernie Sanders I-Vt., who said that as president, he ...

Flynn Turns Tables on Prosecutors in Major Legal Blitz

BY IVAN PENTCHOUKOV Attorneys for former national security adviser Michael Flynn launched a major legal challenge in his perjury case on Aug. 30, by seeking a contempt citation ...

2020 Dems cut from Houston debate rip DNC for ‘lack of transparency,’ vow to press on

By Paul Steinhauser | Fox News MANCHESTER, N.H. – One week ahead of the Democrats’ next presidential nomination debate in Houston, three of the lower-tier candidates who failed to make ...

Mattis derides ‘cowardice’ from anonymous official who penned New York Times’ anti-Trump op-ed

By Sam Dorman | Fox News Former Defense Secretary James Mattis disagreed with a senior administration official’s decision to publish an anonymous op-ed critical of the president in 2018, saying ...

Obamas accused of ‘deplorable behavior’ amid trademark dispute: ‘Not consistent with the values they preach’

By Brian Flood | Fox News Barack and Michelle Obama have been accused of “deplorable behavior” by a Los Angeles entertainment attorney for filing a “meritless petition” amid ...

Chicago mayor clashes with Cruz over gun violence: ‘Keep our name out of your mouth’

By Adam Shaw | Fox News Chicago Mayor Lori Lightfoot clashed with Sen. Ted Cruz over the latest burst of gun violence in the city, claiming Monday that Chicago’s decades-long ...

Trump says background checks would not have prevented recent gun violence

By Steve Holland, Andrea Shalal WASHINGTON (Reuters) – As the United States grappled with yet another mass shooting event on Sunday, President Donald Trump said ...

Mandatory Evacuations Issued Along Entire South Carolina Coast

BY JACK PHILLIPS Mandatory evacuations were issued for the entirety of South Carolina’s coast as Hurricane Dorian is still more than 100 miles from the U.S. mainland. South Carolina ...