Economy - USNN World News

Economy

Student Loan Delinquencies Soar as Pandemic-Era Protections Expire

by USNN World NewsMay 13, 2025May 13, 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

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Cox Automotive Says Tariffs Impacted Wholesale Used Car Prices in April

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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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Economy

Oil Prices Sink After OPEC+ Agrees to Boost Production in June

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Market Review: S&P 500 and Dow Achieve Nine-Day Rally

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Economy

Trump Says Americans Should Be Patient After US Economy Contracts

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Economy

US Job Openings Slide to 6-Month Low, Layoffs Fall

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NATIONAL NEWS

California Church Congregants Hogtied Shooting Suspect Until Police Arrived

By Vanessa Serna LAGUNA WOODS, Calif.—Taiwanese parishioners likely saved many after they hogtied a gunman who opened fire, killing one and injuring five, at an ...

Trevor Loudon Exposes Marxist Groups, Foreign Connections Behind Mass Voting Drives

By Ella Kietlinska and Joshua Philipp The recently released documentary “2000 Mules” by Dinesh D’Souza shows that there were about 2,000 individuals who received ballots from various nonprofit ...

At Least 10 Dead in ‘Mass Shooting’ at Upstate NY Supermarket, Suspect in Custody

By Web Staff At least 10 people were killed, 13 people were shot in a “mass shooting” at a supermarket in Buffalo, New York, on Saturday and ...

Big Tech, Major Websites Are Caught Swiping Personal Data Without Consent

By Bryan Jung Researchers from KU Leuven, Radboud University, and the University of Lausanne conducted a study that found tens of thousands of websites captured—without permission—every word ...

Clintonworld steps away from Black Lives Matter on eve of financial disclosure

By Andrew Kerr, Investigative Reporter & Jerry Dunleavy, Justice Department Reporter Marc Elias and Minyon Moore, two longtime allies of Bill and Hillary Clinton who recently took up key roles with ...

Biden Oil and Gas Lease Sale Cancellations Draw Strong Reaction

By Nathan Worcester As gas prices continue to break records, the Biden administration’s cancellation of two lease sales in the Gulf of Mexico and one lease sale ...

Most Americans Don’t Want Those Shots

By Joseph Mercola This is huge. There is no other vaccine where such a high percentage fails to complete a two-dose series. And, it gets ...

House Democrat Found Way to Be in Two Places at Once; Watchdog Files Ethics Complaint

By Mark Tapscott Rep. Val Demings (D-Fla.) is among the busiest people in the nation’s capital, being both a member of the House of Representatives ...

Pennsylvania Patriots Join Forces to Demand Election Integrity

By Beth Brelje Representatives from more than 70 political activism groups in Pennsylvania are demanding that their legislators repeal no-excuse mail-in voting and secure the commonwealth’s election ...

Democrats Silent as Republicans Rip Into Secret Royalty Checks to Fauci, Hundreds of NIH Scientists

By Mark Tapscott Top Democratic leaders with oversight of the National Institutes for Health (NIH) are keeping quiet about the $350 million in secret payments ...

Retail Diesel Prices Surge to Fresh Record High Amid Tight Supplies

By Andrew Moran Retail diesel prices hit a fresh record high of $5.557 per gallon on Thursday, according to the American Automobile Association (AAA). The cost of a ...

New DOJ Notes Reveal FBI Panic After Trump Tweeted He Knew He Was Being Spied On

By Jeff Carlson and Hans Mahncke News Analysis Newly released notes taken by high-level Department of Justice (DOJ) officials during a March 6, 2017, meeting with FBI leadership expose some of the lengths ...