USNN World News

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

Economy

Market Review: S&P 500 and Dow Achieve Nine-Day Rally

by USNN World NewsMay 3, 2025May 3, 2025

NATIONAL NEWS

Federal Judge Dismisses Felony Obstruction Charge in Second Jan. 6 Case in 8 Days

By Joseph M. Hanneman For the second time in eight days, U.S. District Judge Carl J. Nichols has dismissed a felony obstruction charge alleging that ...

White House Dodges Questions About Hunter Biden’s Laptop

By Nick Ciolino The White House has avoided questions related to an ongoing Department of Justice (DOJ) investigation into President Joe Biden’s son Hunter Biden and the now ...

Suppression of Hunter Biden Laptop Stories ‘Definitely’ Impacted 2020 Election: Barr

By Zachary Stieber The widespread action against stories on emails and other material from a laptop believed to be owned by President Joe Biden’s son ...

Black Lives Matter Activist, Husband Charged With Fraud

By Zachary Stieber A Black Lives Matter activist in Boston and her husband have been charged with fraud and conspiracy by federal officials after allegedly taking ...

N.Y. Times finally admits Hunter Biden’s laptop authentic

By Art Moore The White House has continued to insist that the messages on the “Hunter Biden laptop” presenting evidence that Joe Biden and his family ...

Senate Votes to Make Daylight Savings Time Permanent

By Joseph Lord In a unanimous voice vote, the Senate passed a bill that would make daylight savings time permanent, potentially putting an end to twice-annual time changes. The measure, ...

White House Warns of ‘Severe Consequences’ Congress Doesn’t Pass COVID-19 Aid

By Jack Phillips The White House warned that it will have to make cutbacks to the U.S. COVID-19 response if Congress doesn’t authorize new funding. “As the Administration has warned, ...

2020 Election Nullification, Audit Bills Dead or Dying in State Legislatures

By John Haughey Nine of 10 bills filed in six states seeking to audit 2020 election results—including three that would have nullified Joe Biden’s victory—have ...

Michigan Election Official Charged With Ballot Tampering, Misconduct

By Jack Phillips A Michigan county elections official and former township clerk was charged with ballot tampering related to the August 2020 primary election, according to state ...

DHS Collected Americans’ Financial Records in Bulk: Sen. Wyden

By Ken Silva The Department of Homeland Security (DHS) has collected Americans’ financial records in bulk, according to Sen. Ron Wyden (D-Ore.). Wyden revealed the existence of a ...

Massachusetts to Reduce ‘Significant Overcount’ of COVID-19 Deaths

By Harry Lee The Massachusetts Public Health Department announced Thursday that the state would lower its COVID-19 death count by 3,700 due to new measuring ...

Democrat Spending Bill Contains ‘Serious Expansion of Federal Gun Control’: Gun Rights Group

By Joseph Lord Democrats’ $1.5 trillion omnibus spending package, unveiled early Wednesday, includes provisions that constitute “a serious expansion of federal gun control” according to ...