Economy - USNN World News

Economy

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US Inflation Slows to Lowest Level Since February 2021

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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

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NATIONAL NEWS

Pence adviser says Trump request that Ukraine open Biden probe was ‘unusual and inappropriate’

By Samuel Chamberlain | Fox News An adviser to Vice President Mike Pence told House impeachment investigators this month that President Trump’s request for Ukraine President Volodymyr Zelensky to open an investigation ...

‘Furious’ Trump sounds off on whistleblower, inquiry in exclusive interview with Dan Bongino

By Julia Musto | Fox News President Trump is right to be “furious” about House Democrats’ impeachment push, Fox News contributor Dan Bongino said Saturday. Appearing on “Fox & Friends: Weekend,” Bongino said ...

Gregg Jarrett on Trump tweet attacking Yovanovitch during hearing: ‘He had no choice’

By Joshua Nelson | Fox News After President Trump criticized former U.S. Ambassador to Ukraine Marie Yovanovitch on Twitter during her impeachment inquiry testimony Friday, Fox News legal analyst Gregg Jarret said that the ...

Chris Stewart takedown of Yovanovitch shows Democrats have ‘no case,’ GOP says

By Victor Garcia | Fox News From the view of the White House and some top Republicans, U.S. Rep. Chris Stewart’s questioning of former U.S. Ambassador to Ukraine Marie Yovanovitch on Friday was ...

Ethics Committee releases messages showing Tlaib asking campaign for personal money, as ethics probes announced

By Gregg Re | Fox News The House Ethics Committee on Thursday released a trove of striking internal campaign communications sent in 2018 by Michigan Democratic Rep. Rashida Tlaib, ...

Fox News beats all broadcast, cable networks in impeachment hearing viewership

By Brian Flood | Fox News Fox News’ coverage of the first day of impeachment hearings Wednesday outperformed all broadcast and cable news networks in total viewers, according to ...

Ken Starr, Former Clinton Prosecutor, Says Impeachment Efforts Lack a Star Witness

By Zachary Stieber Ken Starr, the independent counsel who headed the impeachment investigation of President Bill Clinton in the 1990s, said that House Democrats appear to lack ...

Democrat Rep. Van Drew Says Impeachment Testimony Is ‘Hearsay’

By Jack Phillips Rep. Jeff Van Drew (D-N.J.), who represents a congressional district that voted in favor of President Trump, said that diplomat Bill Taylor’s testimony ...

Adam Schiff Will Be Called as a Witness in Senate Impeachment Trial: Graham

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Kevin McCarthy Says House Democrat Told Him They Want to Switch Parties

By Jack Phillips House Minority Leader Kevin McCarthy has said some Democrats are starting to second-guess the impeachment inquiry against President Donald Trump, as well as the ...

Nancy Pelosi refers to reporter as ‘Mr. Republican talking points’ after whistleblower question

By Brian Flood | Fox News House Speaker Nancy Pelosi accused Sinclair Broadcast Group reporter James Rosen of spouting GOP talking points after he asked a question about the ...

Republicans Motion to Subpoena Whistleblower

By Zachary Stieber Rep. Mike Conaway (R-Texas) in a file photograph in Washington. (Alex Wong/Getty Images) GOP lawmakers on Nov. 13 motioned to subpoena the person ...