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

Trump Pledges ‘Peace Through Strength’ Unveiling His 2024 Hypersonic Defense Plan

By Savannah Pointer Former President Donald Trump unveiled a new military policy as part of his 2024 presidential campaign this week, proposing to develop “a state-of-the-art, ...

Trump: Truth About ‘Fake News’ Reporting on ‘Russia Hoax’ Is Finally Coming Out

By Janice Hisle Former U.S. President Donald Trump says he finally sees some truth emerging about “the fake news.” More than six years after the media began covering ...

House Subcommittee Discusses US Development of Satellite Technology and Protecting It From Rival Threats

By Ross Muscato A subcommittee of the House Committee on Energy and Commerce conducted a Feb. 2 hearing that focused on the use of emerging satellite technology ...

368 Arrested, 131 Rescued in Sex Trafficking Operation in California

By Jack Bradley Authorities arrested 368 people and rescued 131 victims involved in human trafficking in a weeklong statewide multi-agency task force, announced Feb. 1. “We ...

Republicans Pass Resolution Condemning Socialism Over Democrat Opposition

By Joseph Lord The U.S. House of Representatives on Feb. 2 passed H. Con. Res. 9, a bill “denouncing the horrors of socialism,” over opposition from Democrats. The ...

Kari Lake Responds to Top Arizona Election Official Demanding ‘Felony’ Probe

By Jack Phillips GOP gubernatorial candidate Kari Lake has accused Arizona Secretary of State Adrian Fontes of weaponizing the justice system after Fontes called for an investigation into Lake’s ...

House Passes Resolution to Remove Omar From Foreign Affairs Committee Over ‘Antisemitism’

By Joseph Lord House Republicans on Feb. 2 passed a resolution that would remove Rep. Ilhan Omar (D-Minn.) from the chamber’s Foreign Affairs Committee. The resolution ...

Archives Told to Suppress Statement on Penn Biden Document Search, Republicans Say

By Lawrence Wilson The National Archives told Congress on Feb. 1 that it had been ordered to suppress a statement regarding the classified documents found ...

Gallup Poll: Americans Say Government Is the Number One Problem Today

By Kevin Stocklin According to a recent Gallup poll, Americans say that government is their number one problem, beating out inflation for the top spot. In ...

FBI Searching Biden’s Rehoboth Beach Home in Classified Documents Probe

By Zachary Stieber FBI agents were searching President Joe Biden’s beach home on Feb. 1, according to a lawyer who represents the president. Agents, “with the President’s ...

CNN Records Lowest Ratings Week in 9 Years

By Samantha Flom CNN is ending January on a low note—the lowest the news network has seen in nine years, to be exact. According to The Wrap, for ...

Former Twitter Execs Set to Testify Before Congress on Hunter Biden Laptop Case

By Ryan Morgan Former executives of Twitter are scheduled to testify before Congress about the company’s decision, ahead of the 2020 election, to suppress reporting about ...