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

Robert Kennedy Formally Announces Democratic 2024 Presidential Campaign

By Alice Giordano BOSTON—Just a few miles from the homestead where his family’s dynasty in U.S. politics began, Robert F. Kennedy Jr. officially announced his ...

400-Foot Tall SpaceX Rocket Explodes Over Texas

By Jack Phillips Elon Musk’s SpaceX launched its first Starship rocket on Thursday morning, but it exploded during a mid-flight failure over the Gulf of ...

Republicans Decry Biden Tax Policies, Call for Changes to Be Made

By Lawrence Wilson House Republicans used Tax Day as an occasion to lambast President Joe Biden’s administration’s tax policies and budget proposal—and highlight bills aimed ...

1 Dead, 5 Injured in New York City Parking Garage Collapse

By Katabella Roberts At least one person has been killed and five others have been injured after a four-story parking garage partially collapsed in New ...

Senators Question Feasibility of EPA’s New Vehicle Emissions Standards

By Nathan Worcester Lawmakers questioned the feasibility of new vehicle tailpipe emissions proposals from the Environmental Protection Agency (EPA), which the agency predicts will lead ...

GOP Senator to Introduce Resolution for Vote of No Confidence in Mayorkas

By Jackson Richman Sen. Roger Marshall (R-Kan.) said on April 18 he will introduce a resolution to have a vote of no confidence in Homeland ...

Businessman Harlan Crow Says ‘Leftists’ Funded ‘Political Hit Job’ on Justice Clarence Thomas

By Matthew Vadum Wealthy Republican donor Harlan Crow says that both he and his friend, Supreme Court Justice Clarence Thomas, are victims of a “political ...

‘Soros-Funded’ DAs to Blame for ‘Violent Crime Spree’ Sweeping the Nation: House GOP

By Samantha Flom and Gary Bai NEW YORK—Rising crime around the United States can be attributed to the “soft-on-crime” policies of Democrat district attorneys funded ...

FBI Arrests 2 Over Secret Chinese Police Station in NYC

By Andrew Thornebrooke and Eva Fu NEW YORK—The FBI arrested two people on April 17 on charges of operating a secret police station in New ...

IRS Raked in Nearly $5 Trillion in Taxes From Americans Last Year

By Tom Ozimek The Internal Revenue Service (IRS) has released data on its operations showing that, during the 2022 fiscal year, the agency collected close ...

Shooting at Birthday Party in Alabama Leaves 4 Dead, 28 Injured

By Mimi Nguyen Ly Police in Alabama on April 16 were investigating a shooting that left four people dead and 28 others injured at a gathering in ...

Transgender Teacher Fired After Allegedly Threatening to Shoot Students

By Lorenz Duchamps A transgender teacher at a Florida middle school was allowed to remain on campus for several weeks after allegedly making disturbing comments ...