USNN World News

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, 2025October 29, 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

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

NATIONAL NEWS

Trump Files Motion to Block Special Counsel Jack Smith’s Gag Order Request

By Jack Phillips Former President Donald Trump’s legal team said they oppose a request from the special counsel’s office to place a gag order ...

US Credit Rating Could Be Downgraded If Government Shuts Down: Moody’s

By Naveen Athrappully A shutdown of the U.S. government could end up leading to a credit downgrade and would be seen as proof of poor ...

Trump to Skip Second Republican Debate

By Katabella Roberts Former President Donald Trump will not appear on stage alongside his Republican presidential primary challengers in the second GOP debate after opting ...

Top Ranking Democrat Won’t Call for Menendez to Resign Amid Bribery Charges

By Dorothy Li Senate Majority Whip Dick Durbin (D-Ill.) on Sunday said the recent charges against Sen. Bob Menendez (D-N.J.) “very serious,” but he won’t ...

A Kennedy Libertarian Party Run Could Tilt Election: Officials

By Matthew Lysiak Presidential candidate Robert F. Kennedy’s declaration that he may be open to running as a third-party candidate has the potential to completely ...

New Polls Signal Bad News for Biden, Potential Landslide for Trump

By Samantha Flom Two polls released over the weekend produced bad news for President Joe Biden, with both showing that Americans largely disapprove of his ...

RFK Jr. Is ‘Keeping All My Options Open,’ Hints of Potential Run as an Independent

By Jeff Louderback Ahead of Robert F. Kennedy Jr.’s planned meet and greets in Austin, Texas, this weekend, speculation is mounting that the Democrat challenging ...

Trump Attorney: New York Attorney General Has No Case

By Jack Phillips A member of former President Donald Trump’s legal team said that New York Attorney General Letitia James doesn’t have a case as ...

RFK Jr. Team Continues to Press Biden Administration for Secret Service Protection

By Jeff Louderback The Trump administration in 2020 provided Secret Service protection for Joe Biden during his run for the presidency, but President Biden has ...

State Auditors Say ESG Agenda Has Forced Them to Push Back

By Kevin Stocklin Oklahoma State Auditor Cindy Byrd says she would rather be at her desk, crunching numbers, than taking on political causes. “Usually, when an ...

Vivek Ramaswamy Reveals ‘Declaration of Independence From China’

By Nathan Worcester At an industrial facility in his home state of Ohio, GOP presidential hopeful Vivek Ramaswamy outlined his “declaration of independence from China.” “There’s ...

Former Trump Campaign Attorney Says Fulton County Case Based on Illegal Evidence

By Catherine Yang Kenneth Chesebro, who served as an attorney for the Trump Campaign during the then-president’s challenge of the 2020 elections, is arguing that ...