USNN World News

Economy

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

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Economy

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

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Economy

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

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Economy

The Fed Fears Inflation While Ignoring Deflation

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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

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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

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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

NATIONAL NEWS

McCarthy: Biden Family Probe ‘Rising to the Level of Impeachment Inquiry’

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Hunter Biden Partner to Testify to Congress as White House Says President ‘Never in Business’ With His Son

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DeSantis Involved in Car Accident on Way to Event in Tennessee: Campaign

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Biden Administration Sued Over Alleged Harms of Biofuel Production

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Texas Governor Says He Will Defy Federal Agency’s Request to Remove Floating Barriers

By Jack Phillips Texas Gov. Greg Abbott on Monday said he would defy a Department of Justice (DOJ) request to remove inflatable, floating barriers in ...

IRS Ends Unannounced Agent Visits to Taxpayers’ Homes

By Tom Ozimek The Internal Revenue Service (IRS) has announced a major yet “common-sense” policy change that will put an end to most unannounced agent ...

Trump’s Trade Chief Lays Out Plan to Beat China at Its Own Game

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RFK Jr. Maintains Highest Favorability Rating Among Presidential Candidates in New Poll

By Jeff Louderback Days after a House hearing on censorship that saw Democrats attempt to prevent Robert F. Kennedy Jr. from testifying, a new Harvard-Harris ...

Auto Thefts Skyrocket in Cities Across the United States

By Bryan Jung According to a new crime report, car robberies have skyrocketed in dozens of cities across the United States in the first half ...

Texas’ Border Crackdown Bears Fruit: 422 Million Lethal Fentanyl Doses Seized, Over 31,000 Criminal Arrests

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Judge Sets New Date for Trump Trial After Former President’s Request for Extensive Delay

By Zachary Stieber Former President Donald Trump’s federal criminal trial has been delayed into 2024, but is still slated to take place before voters vote ...

Jim Caviezel Says Trump Is the ‘New Moses’ While Promoting New Film

By Catherine Yang “Sound of Freedom” actor Jim Caviezel went on Fox and Friends Thursday to promote his new film, praising former President Donald Trump ...