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

by USNN World NewsMay 17, 2025June 4, 2025

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

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

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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

Operations ‘Resuming Gradually’ After All Flights Grounded Across US: Federal Agency

By Tom Ozimek Operations in the United States are starting to resume after all flights across the country were grounded, the Federal Aviation Administration (FAA) ...

‘No Legal Difference’ Between Biden’s Classified Document Stash and Trump’s: Lawyer

By Tom Ozimek The White House’s disclosure that classified documents were found in an office President Joe Biden used before taking office has prompted comparisons ...

McCarthy Plans to Remove Schiff, Omar, Swalwell From House Committees

By Jack Phillips House Speaker Kevin McCarthy (R-Calif.) confirmed Monday that he plans to remove Reps. Eric Swalwell (D-Calif.), Ilhan Omar (D-Minn.), and Adam Schiff (D-Calif.) from their committee ...

Why No ‘Mar-a-Lago Raid’ for Biden?

By Nathan Worcester As Republican lawmakers like Rep. Marjorie Taylor Greene (R-Ga.) worry that President Joe Biden’s retention of classified materials from his vice presidency may be ...

Supreme Court Rejects Case Seeking to Overturn 2020 Election

By Zachary Stieber The U.S. Supreme Court on Jan. 9 turned down a case that sought to overturn the results of the 2020 election. Justices decided against ...

House Passes Bill to Rescind Over $70 Billion in IRS Funding

By Mimi Nguyen Ly The House of Representatives voted late Monday to rescind over $70 billion to the Internal Revenue Service (IRS) in the first ...

Classified Documents Found at Penn Biden Center: President’s Lawyer

By Zachary Stieber Documents with classified markings were found inside an institution at which President Joe Biden worked before he took office, according to a lawyer for ...

California Storm Leaves a Dozen Dead and More Than 100,000 Without Power

By Naveen Athrappully At least a dozen people in California have died and over 100,000 across the state are suffering outages as the region battles ...

IRS Targeted More ‘Easy-Mark’ Low-Income Families Than Millionaires, University Report

By Naveen Athrappully The IRS is continuing its historic trend of pursuing more low-income groups as relatively fewer billionaires and millionaires have come under its ...

Gov. Kristi Noem, Family at ‘High Risk’ of Identity Theft After Jan. 6 Committee’s SSN Leak

By Bill Pan South Dakota Gov. Kristi Noem, who has just begun her second term, says she and her immediate family are at a “very high ...

Colorado Secretary of State’s Office Admits It Mailed Over 31,000 Voter Registration Instruction Cards to Non-Citizens

By Steven Kovac In October 2022, the Colorado Secretary of State’s office acknowledged that it mailed more than 31,000 voter registration instruction cards to foreign ...

Here Are the 7 Conservative Bills Guaranteed a House Vote After Speakership Fight

By Tom Ozimek Tough negotiations in Congress that on Saturday ended with Rep. Kevin McCarthy (R-Calif.) taking the gavel as House speaker have led to ...