Economy - USNN World News

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

Economy

How Major US Stock Indexes Fared May 7

by USNN World NewsMay 7, 2025May 7, 2025

Economy

How Major US Stock Indexes Fared May 6

by USNN World NewsMay 6, 2025May 6, 2025

Economy

Oil Prices Sink After OPEC+ Agrees to Boost Production in June

by USNN World NewsMay 5, 2025May 5, 2025

Economy

Market Review: S&P 500 and Dow Achieve Nine-Day Rally

by USNN World NewsMay 3, 2025May 3, 2025

Economy

Trump Says Americans Should Be Patient After US Economy Contracts

by USNN World NewsApril 30, 2025June 5, 2025

Economy

US Job Openings Slide to 6-Month Low, Layoffs Fall

by USNN World NewsApril 29, 2025April 29, 2025

Economy

US Homeownership Rate Falls to Lowest Level in 5 Years

by USNN World NewsApril 29, 2025April 29, 2025

U.S. stocks drifted to a mixed, quiet finish Monday ahead of a week with several potential flashpoints that could bring more sharp swings for financial markets. Later this week will come earnings reports from some of Wall Street’s most influential companies, including Amazon, Apple, Meta Platforms and Microsoft. Reports will also show how the U.S. economy performed during the first three months of the year and how many workers employers hired during April. On Monday: The S&P 500 rose 3.54 points, or 0.1 percent, to 5,528.75. The Dow Jones Industrial Average rose 114.09 points, or 0.3 percent, to 40,227.59. The Nasdaq composite fell 16.81 points, or 0.1 percent, to 17,366.13. The Russell 2000 index of smaller companies rose 7.93 points, or 0.4 percent, to 1,965.55. For the year: The S&P 500 is down 352.88 points, or 6 percent. The Dow is down 2,316.63 points, or 5.4 percent. The Nasdaq is down 1,944.66, or 10 percent. The Russell 2000 is down 264.61 points, or 11.9 percent. The views and opinions expressed are those of the authors. They are meant for general informational purposes only and should not be construed or interpreted as a recommendation or solicitation. The Epoch Times does not provide investment, tax, legal, financial planning, estate planning, or any other personal finance advice. The Epoch Times holds no liability for the accuracy or timeliness of the information provided.

Economy

How Major US Stock Indexes Fared April 28

by USNN World NewsApril 28, 2025April 28, 2025

Economy

New Oil Drilling Permits in California Drop 97 Percent in 5 Years: What to Know

by USNN World NewsApril 27, 2025April 27, 2025

NATIONAL NEWS

Dem Senators Tell Virginia Supreme Court Redrawn Electoral Map Doesn’t Protect Democrats Enough

By Matthew Vadum Virginia’s two Democratic U.S. senators urged the state’s Supreme Court to reject proposed changes to the state’s congressional map, claiming that the ...

US Navy Warship Pauses Deployment After COVID-19 Outbreak Among ‘100 Percent Immunized’ Crew

By Mimi Nguyen Ly A U.S. Navy warship has paused its deployment to South America due to a COVID-19 outbreak among its “100 percent immunized” crew, the ...

Airlines Across US Continue to Cancel, Delay Hundreds of Christmas Holiday Flights Amid Omicron Surge

By Katabella Roberts Airlines across the United States continued to cancel hundreds of Christmas holiday flights on Sunday amid the nationwide surge in Omicron cases which has also ...

Judge Orders New York Times to Return Legal Memos to Project Veritas

By Mimi Nguyen Ly A New York judge has ordered The New York Times to return confidential legal memos it obtained between investigative journalism organization Project Veritas and the group’s lawyer. The ...

GM Releasing Kits That Can Convert Old Gasoline Cars to Electric Vehicles

By Naveen Anthrappully General Motors (GM) plans on going beyond manufacturing a fleet of electric cars, according to an announcement Wednesday regarding electrification component sets, ...

Head of US Energy Alliance Says Biden Administration’s Energy Policies Are Driving up Costs of Oil and Gas

By Masooma Haq and Steve Lance While the pandemic has spurred demand, leading to increased energy prices, the Biden administration’s reliance on imports is a greater contributor to ...

US Secret Service Investigating Hundreds of Fraud Cases Linked to Funds for Pandemic Relief

By Naveen Anthrappully More than 900 fraud cases linked to pandemic-related relief funds are being investigated, said a U.S. Secret Service statement issued Tuesday. In the statement, the ...

Multiple Airlines Cancel Hundreds of Flights on Christmas Eve, Citing Omicron Surge

By Katabella Roberts Multiple airlines across the United States canceled hundreds of flights on Christmas eve, citing a nationwide surge in Omicron cases which has directly impacted employees and flight crew. The ...

Jim Jordan Becomes 2nd GOP Rep. Targeted by Jan. 6 Committee

By Joseph Lord The Democrat-led House Jan. 6 Committee is now asking Rep. Jim Jordan (R-Ohio) to testify on the events of Jan. 6, making Jordan the ...

Grassroots Constitutional Rights Groups in North Carolina Combine Efforts to Change Leadership

By Matt McGregor With the primaries around the corner of the new year, grassroots constitutional rights groups in North Carolina are working to impact communities by localizing national issues ...

‘Stop W.O.K.E.’ Act: DeSantis Gives Florida Parents Another Tool ‘To Fight Back Against Woke Indoctrination’

By Patricia Tolson On Dec. 15, Florida Gov. Ron DeSantis announced the Stop the Wrongs to Our Kids and Employees (W.O.K.E.) Act, “a legislative proposal ...

Former Dealer, User Details Newport Beach’s Secret Drug Trade

By John Fredricks NEWPORT BEACH, Calif.—Heavy rain drops began to fall against a white truck marked “HAZMAT” parked at the end of the 100 block ...