USNN World News

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

Economy

Oil Prices Sink After OPEC+ Agrees to Boost Production in June

by USNN World NewsMay 5, 2025May 5, 2025

NATIONAL NEWS

A Call to Arms: Teachers in Conservative States Are Volunteering to Carry Guns

By Darlene McCormick Sanchez Crosses and flowers laid out in the public square of the grief-stricken town Uvalde, where a teen gunman killed 19 students ...

FBI ‘Purging’ Employees With Conservative Views: Rep. Jordan

By Katabella Roberts Rep. Jim Jordan (R-Ohio) on Tuesday claimed that the FBI is “purging” employees who hold conservative viewpoints. In a letter (pdf) to FBI Director Christopher Wray, Jordan, the ranking ...

Simone Biles, Other Women Sue FBI Over Botched Probe Into Larry Nassar

By Zachary Stieber Olympic gold medalist Simone Biles and dozens of other women who say they were sexually assaulted by Larry Nassar are seeking more than $1 ...

Former US Congressman Pleads Guilty to Election Fraud

By Zachary Stieber A former U.S. congressman from Philadelphia has pleaded guilty to several election fraud charges, including bribery and falsification of voting records, according to the ...

Jan. 6 Committee Is Used to ‘Abolish Electoral College’ and as a ‘Cover Up’ for Pelosi: House Republicans

By Mimi Nguyen Ly House Republicans on Wednesday spoke out against the Jan. 6 Committee, accusing the entire effort of being a “partisan witch hunt” ...

Steve Bannon Subpoenas Pelosi, Jan. 6 Panel Members in Contempt of Congress Case

By Joseph Lord Steve Bannon’s legal team has issued subpoenas to top Democrats and members of the controversial Jan. 6 House of Representatives panel in a development ...

Man Arrested Near Home of Supreme Court Justice Had a Gun, Wanted to Kill: Officials

By Zachary Stieber A California man arrested near the home of Supreme Court Justice Brett Kavanaugh on June 8 has been charged with attempted murder. Nicholas John Roske ...

Grassley, Franken, Nunn Win Iowa Primary Races

By Jeff Louderback Seven-term Republican Sen. Chuck Grassley (R-Iowa) easily won in his race against state Sen. Jim Carlin (R) while Republican state Senator and Air Force ...

Trump-Backed Candidate Leads Challenger in Montana GOP Primary

By Allan Stein MISSOULA, Mont.—Five percentage points separate former U.S. Interior Secretary Ryan Zinke and his closest Republican rival, former Montana Sen. Al Olszewski in a hotly ...

Pro-Trump Candidate Leads California Election to Fill Seat Vacated by Devin Nunes

By Brad Jones Connie Conway leads the congressional seat previously held by Rep. Devin Nunes (R-Calif.) who resigned in January to lead former President Donald ...

San Francisco Voters Oust Progressive Soros-Backed Prosecutor in Recall Vote

By Brad Jones Voters have ousted Chesa Boudin (D) as San Francisco’s district attorney. Unlike California Gov. Gavin Newsom’s recent recall election, Boudin didn’t face any opponents. On June 7, San ...

How Fake Is Twitter’s User Data?

By Jeffrey A. Tucker Over the last several weeks, the perception has grown that Elon Musk will not be the emancipator of Twitter, freeing it finally from its ...