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

GOP Gubernatorial Candidate Zeldin Says He’ll Declare Crime Emergency in NY

By Jack Phillips Republican New York gubernatorial candidate Lee Zeldin suggested he would declare a crime emergency and end cashless bail if he’s elected, according to remarks ...

Michigan State Senator Raises Concerns About Secretary of State Jocelyn Benson, Election Integrity

By Tiffany Meier, Joshua Philipp and Naveen Athrappully Michigan state Sen. Ruth Johnson, a Republican, has accused Michigan Secretary of State Jocelyn Benson, a Democrat, of incompetence, and raised concerns about election ...

Tudor Dixon, Gretchen Whitmer Debate Pandemic Response, Mandating COVID Jabs for School Kids in Michigan

By Caden Pearson Democratic Michigan Gov. Gretchen Whitmer said she doesn’t support “requiring the COVID vaccine” for school kids after being put on the spot by Republican gubernatorial candidate Tudor Dixon during ...

US, Other IEA Members Have ‘Huge’ Oil Reserves That Can Be Tapped If Supply Is Disrupted: Birol

By Naveen Athrappully Members of the International Energy Agency (IEA) can tap into its oil reserves to alleviate any supply issues, the agency’s executive director Fatih Birol ...

Independent Voters Rush Away From Democrats on Economy Ahead of Midterms: Survey

By Bryan Jung A new survey reveals that independent voters are fleeing from the Democrats due to the economy and inflation, two weeks before the midterm elections. Independents are 20 percent ...

‘Misguided’ Government Policies Worsen US Homelessness Crisis: Report

By Emel Akan Homelessness in the United States has increased dramatically over the last decade and is now at crisis levels in many major cities. ...

Judge Strikes Down NYC Vaccine Mandate for All City Workers

By Caden Pearson A New York Supreme Court judge on Monday struck down New York City’s vaccine mandate for all city workers, finding the rule to be unconstitutional, arbitrary, ...

Arizona Defies Biden Admin, Files Lawsuit and Starts Installing Shipping Container Barrier in Cochise County

By Katabella Roberts Arizona has forged ahead with erecting a shipping container barrier along the Arizona-Mexico border in an effort to close the gaps, despite the Biden administration’s attempts to ...

Biden Falsely Claims Student Debt Forgiveness Program Was Approved by Congress

By Zachary Stieber President Joe Biden has falsely said that his administration’s new student debt relief program was approved by Congress as a piece of legislation. “It’s passed,” Biden said. ...

Biden Says He Wants to Limit Gun Owners to ‘8 Bullets in a Round’

By Jack Phillips President Joe Biden on Sunday said that he is pushing a limit on gun owners having more than “eight bullets in a round.” It’s unclear ...

GOP Launches 73 Election Integrity Lawsuits Ahead of 2022 Midterms

By Jack Phillips The Republican National Committee (RNC) has filed 73 lawsuits on election issues during the 2022 midterm election cycle, according to its chair. RNC ...

New Email Reveals Answer to Establishment’s Efforts to Oust Trump

By Jeff Carlson and Hans Mahncke News Analysis An FBI email previously not known to the public has revealed that the bureau planned to make Igor Danchenko—the primary ...