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

by USNN World NewsApril 29, 2025April 29, 2025

NATIONAL NEWS

Top Colorado Election Official Says Passwords for Voting Systems Were Online for 4 Months

By Zachary Stieber Passwords for Colorado’s voting systems were online for four months, Colorado Secretary of State Jena Griswold said in a Nov. 4 statement. An ...

Voting Time Extended in Pennsylvania County After ‘Software Malfunction’

By Zachary Stieber Voting hours have been extended in Pennsylvania’s Cambria County after what officials described as a software problem disrupted the casting of ballots ...

Dixville Notch Midnight Vote Kicks Off Election Day With Trump-Harris Tie

By Aldgra Fredly Voting for the 2024 presidential race in the small town of Dixville Notch in New Hampshire has concluded, with an even split ...

Joe Rogan Endorses Trump on Eve of Election Day

By Stephen Katte Podcaster Joe Rogan has formally endorsed Republican presidential candidate Donald Trump on the eve of Election Day. In a Nov. 4 statement posted ...

Extra Security Fencing Placed at White House, Harris Residence Ahead of Election

By Bill Pan Eight-foot-high metal security fencing was installed around key government sites in Washington over the weekend as authorities brace for potential unrest on ...

Federal Judge Rules Iowa Officials Can Challenge Ballots of Potential Noncitizen Voters

By Aldgra Fredly A federal judge ruled on Sunday that Iowa election officials may continue to follow Secretary of State Paul Pate’s directive to challenge ...

Whoever Wins This Pennsylvania County Is Expected to Win the White House

By Joseph Lord ERIE, Pa.—Thousands turned out to the Bayfront Convention Center on Sept. 29 to hear former President Donald Trump speak. Hundreds more gathered ...

Pennsylvania Investigating Possible Fraudulent Voter Registration Forms, Top Election Official Says

By Jack Phillips Pennsylvania’s top election official confirmed his office is investigating potentially fraudulent voter registration applications after authorities in multiple counties reported the issue. Noting ...

Georgia Logs More Than 4 Million Votes as Early Voting Period Ends

By Ryan Morgan The Georgia secretary of state’s office recorded more than 4 million votes cast during the state’s early voting period, which concluded on ...

‘Fraudulent’ Mail Ballot Request Forms Found in Another Pennsylvania County, District Attorney Says

By Jack Phillips Officials in Pennsylvania’s Monroe County announced this week that they discovered mail ballot request forms in the county that were found to ...

Judge Orders Arizona to Release List of Registered Voters With Unverified Citizenship

By Tom Ozimek A judge has ordered Arizona to release a list of registered voters whose citizenship status was not verified due to a coding ...

Noncitizen Chinese Student Charged With Voting Illegally in Michigan

By Catherine Yang and Eva Fu Michigan officials have charged a non-U.S. citizen Chinese student for casting an illegal vote at an early voting site ...