USNN World News

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

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Economy

How Major US Stock Indexes Fared May 7

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Economy

How Major US Stock Indexes Fared May 6

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Economy

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

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Economy

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

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Economy

Trump Says Americans Should Be Patient After US Economy Contracts

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Economy

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

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Economy

US Homeownership Rate Falls to Lowest Level in 5 Years

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NATIONAL NEWS

Around 3,000 More US Troops Deploying to Southern Border

By Ryan Morgan Around 3,000 additional U.S. troops are set to deploy to the U.S. southern border in the next few weeks as part of ...

Trump Will Sign Order Making English the Official Language of US

By Aaron Gifford President Donald Trump is planning an executive order to make English the official language of the United States. The planned order, obtained and ...

Trump Backs Temporary Spending Bill Ahead of Funding Deadline

By Jackson Richman President Donald Trump has come out in favor of funding the government at current levels ahead of a March 14 deadline. “Joe Biden ...

AG Pam Bondi Warns 3 States Over Transgender Sports Rules

By Jack Phillips U.S. Attorney General Pam Bondi on Wednesday warned Minnesota, California, and Maine that they need to comply with federal law to keep ...

Deaths of Gene Hackman and Wife Called Suspicious by Investigators

By Jack Phillips Investigators said Thursday that Academy Award-winning actor Gene Hackman, his wife, and one of their dogs had been dead for a period ...

Bridgeport Councilman Arrested in 2023 Ballot Fraud Case Says He Was Innocent and Following Democratic Party’s Orders

By Juliette Fairley One of the three council members who surrendered to state police last week in connection with absentee ballot fraud allegations in the ...

USAID Sent Millions to Ukraine in Secret Slush Funds, Investigators Found

By Mark Tapscott U.S. Agency for International Development (USAID) officials repeatedly refused to allow investigators working for Senate DOGE Caucus Chairman Sen. Joni Ernst (R-Iowa) ...

Massive Sting Nets 25 Arrests and 1.7 Million Fentanyl Pills in Arizona

By Allan Stein A major sting operation in Arizona has resulted in 25 arrests and the seizure of 1.7 million fentanyl pills and other drugs, ...

White House Orders Agencies to Accelerate Large-Scale Firings of Federal Workers

By Tom Ozimek The Trump administration is accelerating its sweeping federal workforce cuts, directing agency heads in a Feb. 26 memo to finalize plans for ...

Trump Says He Wants Keystone XL Oil Pipeline Built Now

By Jack Phillips President Donald Trump said he wants the Keystone XL pipeline, which would transport crude oil from Canada to the United States, built ...

White House: 1 Million Federal Workers Responded to Mass Email Asking to List Accomplishments

By Jack Phillips The White House on Tuesday said that 1 million federal employees responded to a mass email from the Office of Personnel Management ...

Witness Will Tell House DOGE Panel How Terrorists Got $122 Million from USAID

By Mark Tapscott WASHINGTON—House DOGE Subcommittee Chairman Marjorie Taylor Greene (R-Ga.) and other members of the panel will hear details on Wednesday about how $122 ...