USNN World News

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, 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

NATIONAL NEWS

GOP Lawmaker Sees Potential Biden Impeachment as Hunter Biden Probe Intensifies

By Bill Pan Rep. Tim Burchett (R-Tenn.), a member of the House Oversight Committee, has stated that information presented by an IRS whistleblower might bring ...

Lawmaker with PhD in AI Warns About Technology’s Real Danger—It’s Not Killer Robots

By Joseph Lord The only member of Congress with an advanced degree in AI is urging caution as other lawmakers and industry leaders rush to ...

Jordan Accuses Biden of ‘Political Operation’ in Covering Up Hunter Biden Laptop News

By Savannah Hulsey Pointer Rep. Jim Jordan (R-Ohio) claims that then-presidential candidate Joe Biden misled Americans regarding the letter signed by 51 intelligence officials which ...

Bragg Drops Case Against Jordan, Allowing House GOP to Depose Ex-Manhattan Prosecutor

By Gary Bai Manhattan District Attorney Alvin Bragg has dropped his effort to quash a congressional subpoena to a former prosecutor who worked in his ...

Fatal Crash Sparks Fire on Major Connecticut Highway Bridge

By The Associated Press A crash involving a fuel delivery truck and a car sparked a fire on a major Connecticut highway bridge Friday, with ...

New Twitter File Indicates Fauci Lied During Deposition

By Zachary Stieber A newly disclosed file from Twitter indicates Dr. Anthony Fauci lied under oath when he said he didn’t use social media. The newly ...

US Not Capitalizing on Status as World’s Only ‘Energy Superpower’, Says ‘Godfather of LNG’ Charif Souki

By John Haughey Russia’s invasion of Ukraine created a global energy crisis and an opportunity for the United States to assert itself as the world’s ...

Judge Rejects Arizona AG’s Attempt to Revoke Elections Agreement With County Recorder

By Elizabeth Dowell An Arizona judge has rejected state Attorney General Kris Mayes’s attempt to terminate an agreement between Cochise County and the county recorder in ...

Ex-CIA Official: Biden Campaign Behind Letter Framing Hunter Biden Laptop Story as Russian Disinformation

By Tom Ozimek A former deputy director of the CIA was prompted by the Biden campaign to frame the Hunter Biden laptop story as Russian ...

GOP Lawmakers Urge Biden to Stop Sending Billions of Dollars in Military Aid, Weapons to Ukraine

By Katabella Roberts A group of 19 Republican lawmakers has called on the Biden administration to stop spending billions of dollars in military aid to ...

IRS Agent Comes Forward as Whistleblower in Hunter Biden Case

By Savannah Hulsey Pointer An Internal Revenue Service (IRS) criminal supervisory agent is seeking whistleblower status, saying they have information that the Biden administration mishandled ...

IRS Pays $23 Billion Less in Tax Refunds for 2023 Filing Season, Worrying Americans

By Naveen Athrappully The Internal Revenue Service (IRS) is paying $23 billion less in tax refunds for the 2023 filing season—with the average refund amount ...