USNN World News

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

Economy

How Major US Stock Indexes Fared May 6

by USNN World NewsMay 6, 2025May 6, 2025

NATIONAL NEWS

New York Will Become a ‘Law-and-Order State’ Under Zeldin: DeSantis

By Eva Fu and Frank Fang LONG ISLAND, N.Y.—Florida Gov. Ron DeSantis on Oct. 29 told a dense crowd of New Yorkers that Republican gubernatorial ...

Pennsylvania’s Department of State Has Sent Out 249,000 Ballots to Unverified Voters in 2022 Election

By Beth Brelje In Pennsylvania, the Department of State has allowed at least 249,000 unverified voters to receive mail-in ballots so far in the 2022 general election, due ...

Judge Rejects Bid to Block Citizens Monitoring Ballot Drop Boxes in Arizona

By Caden Pearson A federal judge on Friday rejected a civil lawsuit seeking to block grassroots volunteers who mobilized to monitor absentee ballot drop boxes ...

Arizona GOP Gubernatorial Nominee Thanks Liz Cheney for ‘Biggest Fundraiser Yet’

By Lorenz Duchamps Arizona Republican governor frontrunner Kari Lake responded on Friday to Rep. Liz Cheney’s (R-Wyo.) “anti-endorsement” efforts, saying a television ad she sponsored and recently broadcasted caused ...

Midterm Elections Updates: Tulsi Gabbard Endorses Republican Adam Laxalt for Senate

By The Epoch Times Staff The latest on the midterm elections. ___ Tulsi Gabbard Endorses Republican Adam Laxalt for Senate Former Rep. Tulsi Gabbard has handed her endorsement to ...

FBI Asks Court for 66 Years to Release Information From Seth Rich’s Computer

By Zachary Stieber The FBI is asking a U.S. court to reverse its order that it produce information from Seth Rich’s laptop computer. If the court does not, the ...

Nancy Pelosi’s Husband Attacked During Home Invasion

By Zachary Stieber U.S. House Speaker Nancy Pelosi’s husband was attacked in the early hours of Oct. 28 during a home invasion, Pelosi’s office says. A person ...

Pentagon: US to End Sea-Launched Nuclear Missile Program

By Jack Phillips The United States will stop developing nuclear-armed, sea-launched cruise missiles, according to new documents released by the Department of Defense (DOD). The documents ...

Senators Share Documents With Prosecutors Probing Hunter Biden

By Zachary Stieber Two senators have shared documents they’ve obtained while investigating President Joe Biden’s son with prosecutors who are probing the son, Hunter Biden, the ...

Trump to Hold Rallies in Four States Ahead of Midterm Elections

By Frank Fang Former President Donald Trump is set to go on a rally blitz for candidates he has endorsed in at least four battleground states during ...

Trump Was Right on TikTok, says Top Democrat Senator

By Victoria Kelly-Clark One of the Democratic Party’s leading figures, Sen. Mark Warner (D-Va.), who is head of the United States Senate intelligence committee, has said former ...

Arizona County Approves Plan to Hand Count Ballots, Citing Declining Voter Confidence

By Katabella Roberts A Republican-controlled county in Arizona will hand count some ballots cast at polls in November’s midterm congressional elections after voting to approve the measure on Oct. 24. The ...