USNN World News

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

Economy

Trump Says Americans Should Be Patient After US Economy Contracts

by USNN World NewsApril 30, 2025June 5, 2025

NATIONAL NEWS

Worker Shortages Drive Companies to Boost Benefits Amid Holiday Hires

By Rachel Hartman Companies are struggling to hire seasonal workers as they head into the busy holiday season during one of the tightest labor markets in ...

Charles Dolan’s Involvement in Dossier Means DOJ, FBI Withheld Information: Kash Patel

By Zachary Stieber The revelation that Democratic operative Charles Dolan was one of the sources for the dossier compiled by former British spy Christopher Steele shows the FBI ...

US Appeals Court Reaffirms Hold on Biden’s COVID-19 Vaccine Mandate for Private Businesses

By Mimi Nguyen Ly A U.S. appeals court has rejected a challenge by President Joe Biden and his administration on Friday and re-affirmed its decision ...

Record Number of American Workers Quit Their Jobs, Signaling Labor Market Squeeze

By Tom Ozimek A record number of American workers quit their jobs as of the last business day of September, in a sign of continued ...

Study Reveals Spending Bill Would Raise Taxes on Middle Class, Despite Biden’s Promise

By Christopher Burroughs President Joe Biden’s Build Back Better spending plan would raise taxes on middle-class Americans, according to a study released Thursday, despite the president’s pledge that ...

SpaceX Crew Launch Marks 600 Space Travelers in 60 Years

By The Associated Press CAPE CANAVERAL, Fla.—A SpaceX rocket carried four astronauts into orbit Wednesday night, including the 600th person to reach space in 60 years. The repeatedly ...

California Community College Overrun With ‘Fake Students/Bots’: Whistleblower

By Patricia Tolson In the wake of the transition to online training due to the COVID-19 pandemic, California community colleges have become overrun with “fake students/bots” ...

Judge Orders DOJ to Stop Extracting Data from James O’Keefe’s Phone

By Mimi Nguyen Ly A federal court on Nov. 11 ordered the Department of Justice (DOJ) to stop extracting and reviewing data from phones belonging ...

A Tribute For Our Heroes On Veterans Day

By The Veterans Site, Greater Good Veterans Day is a time to honor all the brave men and women among us who, at one time ...

Pennsylvania Judges Strike Down School Mask Mandate

By Zachary Stieber A court in Pennsylvania on Wednesday struck down an order that required masks in schools. Acting Health Secretary Alison Beam’s order, which also mandated masks ...

Natural Gas Prices Expected to Be Volatile This Winter Amid Uncertainty About Weather: EIA

By Katabella Roberts Natural gas prices are expected to be “volatile” across the United States as the winter heating season begins amid uncertainty about the weather, according to the ...

Relief from High Prices Unlikely, Analysts Say Ahead of Consumer Inflation Data Release

By Tom Ozimek With investors closely eyeing two major data releases this week on inflation—one on producer input costs and the other on consumer prices—Wells Fargo ...