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

CNN Producer Accused of Inappropriate Conduct Toward Female Colleagues: Undercover Video

By Peter Svab One of CNN’s top producers has been accused of making inappropriate advances toward young female employees by a senior CNN editor, in a ...

Sen. Grassley Suspects Deep State May Bury ‘Spygate’ Report

BY IVAN PENTCHOUKOV Sen. Chuck Grassley (R-Iowa) suspects that the numerous delays of the release of a much-anticipated report on spying on the Trump campaign suggest that the deep state ...

The Young, the Restless, and Bernie

By WILLIAM MURCHISON Empowering the kiddies to do in the elderly. ANew York Times opinion column acquaints humanity with the injustice of forbidding the vote to 16- ...

Mitt Romney Implodes After Outing of Secret Twitter Persona

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Tammy Bruce: Bombshell book reveals Hillary Clinton cast ‘protective bubble’ over Harvey Weinstein

By Matt London | Fox News Fox Nation host Tammy Bruce broke down what she sees as the biggest takeaway from Ronan Farrow’s bombshell new book detailing sexual misconduct and alleged cover-ups reaching into ...

HUD Secretary Carson clashes with Dem rep over withheld Puerto Rico funds: ‘Nothing to hide’

By Tyler Olson | Fox News Housing and Urban Development Secretary Ben Carson clashed Tuesday with Rep. Nydia Velazquez, D-N.Y., as a hearing on the Trump administration’s housing plans turned to ...

‘This is just wrong’: Starr says Dems doing disservice to America by shrouding investigation in secrecy

By Nick Givas | Fox News The Democratic impeachment effort against President Trump has been conducted under the cover of darkness to hide the facts from the American people, and is just ...

Hogan Gidley responds to backlash over Trump comparing impeachment to ‘lynching’

By Joshua Nelson | Fox News After President Trump received swift backlash Tuesday for tweeting that the Democrats’ impeachment inquiry is a “lynching,” White House Deputy Press Secretary Hogan ...

RNC debuts ‘Victims of Socialism’ campaign with firsthand accounts of its consequences

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CNN’s Jeffrey Toobin regrets covering ‘no big deal’ Clinton email scandal

By Brian Flood | Fox News CNN chief legal analyst Jeffrey Toobin apologized on Monday for covering former Secretary of State Hillary Clinton’s use of a private email server after ...

Rep. Steve Scalise on Clinton emails: ‘Ought to be investigated’ to find out how Russians tried to interfere in 2016 election

By Joshua Nelson | Fox News House Minority Whip Steve Scalise, R-La., said on Monday night that former Secretary of State Hillary Clinton’s use of a private email ...

Rep. Jordan: Adam Schiff conducting impeachment probe in ‘basement of the Capitol’ where no one can see

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