Economy - USNN World News

Economy

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

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NATIONAL NEWS

Judge Strikes Down NYC Vaccine Mandate for All City Workers

By Caden Pearson A New York Supreme Court judge on Monday struck down New York City’s vaccine mandate for all city workers, finding the rule to be unconstitutional, arbitrary, ...

Arizona Defies Biden Admin, Files Lawsuit and Starts Installing Shipping Container Barrier in Cochise County

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Biden Falsely Claims Student Debt Forgiveness Program Was Approved by Congress

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Biden Says He Wants to Limit Gun Owners to ‘8 Bullets in a Round’

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GOP Launches 73 Election Integrity Lawsuits Ahead of 2022 Midterms

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New Email Reveals Answer to Establishment’s Efforts to Oust Trump

By Jeff Carlson and Hans Mahncke News Analysis An FBI email previously not known to the public has revealed that the bureau planned to make Igor Danchenko—the primary ...

Military Whistleblowers Sound Alarm on ‘Devastating’ Consequences of Pentagon’s Vaccine Mandate

By J.M. Phelps Whistleblower service members are speaking out on behalf of thousands of service members whose careers have been jeopardized for objecting to Secretary ...

Judge Strikes Down Controversial Clause in NY’s New Election Laws

By Allen Zhong A New York state court judge on Friday struck down one controversial sentence in New York’s new election laws. New York Supreme Court Justice Dianne Freestone ...

Federal Appeals Court Temporarily Halts Biden’s Student Loan Relief

By Mimi Nguyen Ly A federal appeals court on Friday temporarily blocked President Joe Biden’s plan to cancel billions of dollars in federal student loans. The ...

Lawyers Prepare to Sue Any State That Requires COVID-19 Vaccination to Attend School

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Biden Says It’s His ‘Intention’ to Run for Reelection in 2024

By Lorenz Duchamps President Joe Biden said in an interview on Friday that it is his “intention” to run for reelection in 2024, though he ...

Judge Orders Fauci, Psaki, Top Officials Be Deposed in Big Tech Censorship Case

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