USNN World News

Economy

The Fed Fears Inflation While Ignoring Deflation

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Economy

Student Loan Delinquencies Soar as Pandemic-Era Protections Expire

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Economy

US Inflation Slows to Lowest Level Since February 2021

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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

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How Major US Stock Indexes Fared May 7

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How Major US Stock Indexes Fared May 6

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Trump Says Americans Should Be Patient After US Economy Contracts

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NATIONAL NEWS

Harris Proposes Raising Corporate Tax Rate to 28 Percent

By Stephen Katte Democratic Presidential candidate Kamala Harris is proposing to increase the corporate tax rate as part of her economic agenda if she wins ...

RNC Asks Supreme Court to Block 41,000 Arizona Voters From Voting in November

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Local Officer Shot Trump Rally Shooter First, Knocking Him Down, Investigation Finds

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DNC Set to Kick Off: Here’s What to Expect

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Chicago Police Boss: No Repeat of 1968 Violence as Protesters Descend on DNC

By Jack Phillips The head of the Chicago Police Department said that his law enforcement agency is ready for potentially thousands of protesters descending on ...

US Plans to Start Recycling Nuclear Waste

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Supreme Court Upholds Block on Entirety of Federal Government’s New Title IX Gender Rule

By Bill Pan The U.S. Supreme Court has ruled 5-4 to reject the federal government’s bid to partially enforce its Title IX rule in 10 ...

Chicago Gears up for DNC Amid Protests and Security Concerns

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RFK Jr. Refutes Report That He Approached Harris for a Cabinet Position

By Jeff Louderback Independent presidential candidate Robert F. Kennedy Jr. refuted a Washington Post report from earlier this week that said he would drop out ...

Trump, Vance Propose Fixes for ‘Affordability Crisis’

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9 States Sue Biden Admin to Block Voter Registration Executive Order

By Tom Ozimek Mississippi and eight other states have sued the Biden administration to block an executive order requiring federal agencies to develop strategies to ...

RFK Jr. to Appeal After Judge Rules Him Ineligible to Appear on New York Ballot

By Jeff Louderback A judge ruled on Aug. 12 that independent presidential candidate Robert F. Kennedy Jr. falsely claimed New York residency on his nominating ...