USNN World News

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

Economy

US Job Openings Slide to 6-Month Low, Layoffs Fall

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NATIONAL NEWS

Wisconsin Nov. 3 Election Will Be Investigated by Retired Officers: Assembly Speaker

By Jack Phillips Wisconsin state Assembly Speaker Robin Vos says he’s hiring retired police officers to probe aspects of the 2020 presidential election, joining efforts in Republican-led ...

Busted! Windham Auditors Tampered With Machine Tape Data – Bombshell!

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DeSantis: People Moving to Florida ‘Overwhelmingly’ Registering as Republicans, Including Democrats

By Jack Phillips Florida Gov. Ron DeSantis said that people moving to Florida from other states are “overwhelmingly” registering as Republicans, and that includes Democrats who ...

‘I Believe He’ll Run’: Buzz Grows Around Trump 2024 Presidential Bid

By Jack Phillips Several Republicans, including two lawmakers, predicted that former President Donald Trump will indeed make another bid for president in 2024. When asked during a ...

‘We Have Guns’: Sen. Rand Paul’s Wife Responds to Threats, White Powder Scare

By Jack Phillips Sen. Rand Paul’s (R-Ky.) wife, Kelley Paul, said that neither she nor her husband will be backing down in the face of death ...

Rand Paul Says He Won’t Get COVID-19 Vaccine: ‘Show Me Evidence’

By Jack Phillips Sen. Rand Paul (R-Ky.) says that he won’t get vaccinated against COVID-19, explaining that he already contracted the virus last year and has “natural ...

Maricopa County Lawyer Demands 2020 Auditors Preserve All Documents, May File Lawsuit

By Jack Phillips An attorney representing Maricopa County, Arizona, has sent Republican state Senate President Karen Fann a letter demanding the preservation of all documents relating to the ...

Arizona’s Top Elections Official Tells Maricopa County to Get New Election Machines

By Zachary Stieber Machines being audited may have been compromised, Arizona’s secretary of state alleges. Arizona’s secretary of state on Thursday warned the state’s largest county ...

Trump to Hold Rallies in Four States Soon

By Zachary Stieber Former President Donald Trump plans to hold rallies in a handful of states, he said in a newly released interview. Trump, who has ...

Georgia Judge Decides to Unseal Absentee Ballots in Fulton County for Review

By Zachary Stieber A judge in Georgia on Friday ruled to unseal absentee ballots submitted in the 2020 presidential election. Petitioners in an ongoing case will be able ...

Mass. Governor to End Pandemic Restrictions Early

By Matthew Vadum Facing mounting legal pressure, Massachusetts Gov. Charlie Baker announced the Bay State will soon stop enforcing pandemic-related restrictions on civic life and businesses, including those that ...

Mostly Republican Ballots Fail to Scan in Pennsylvania County Election, Stoking Concerns

By Zachary Stieber A number of ballots couldn’t be scanned during local elections this week in a southwestern county in Pennsylvania, triggering fresh concerns about election integrity. The ballots, ...