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

Economy

Cox Automotive Says Tariffs Impacted Wholesale Used Car Prices in April

by USNN World NewsMay 8, 2025May 12, 2025

Economy

How Major US Stock Indexes Fared May 7

by USNN World NewsMay 7, 2025May 7, 2025

Economy

How Major US Stock Indexes Fared May 6

by USNN World NewsMay 6, 2025May 6, 2025

Economy

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

by USNN World NewsMay 5, 2025May 5, 2025

Economy

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

by USNN World NewsMay 3, 2025May 3, 2025

Economy

Trump Says Americans Should Be Patient After US Economy Contracts

by USNN World NewsApril 30, 2025June 5, 2025

Economy

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

by USNN World NewsApril 29, 2025April 29, 2025

NATIONAL NEWS

ICE Arrests 23 Illegal Alien Human Rights Abusers, Violent Criminals

By Charlotte Cuthbertson In a nationwide operation, Immigration and Customs Enforcement (ICE) agents arrested 23 illegal alien fugitives who were being sought for their roles ...

Soaring Inflation Fueled by Reckless Spending Will Come to Bite Democrats in November: Analysts

By Michael Washburn A recent poll finding that only 38 percent of Americans approve of the job that President Joe Biden is doing—down from 41 percent in ...

FBI Compelled Apple, Google to Hand Over Information on Project Veritas Journalists in Biden Diary Probe

By Zachary Stieber The FBI sought and obtained both subpoenas and orders prohibiting the subpoenaed parties—Apple and Google—from disclosing the existence of the subpoenas in ...

Injuries at Amazon Warehouses Rose 38 Percent In 2021: Labor Activists

By Bryan Jung Amazon.com Inc. warehouses in the United States, which employ millions of Americans, recorded a 38 percent rise in reported workplace injuries between ...

First Texas Bus Drops Off Illegal Immigrants Near US Capitol

By Zachary Stieber The first bus carrying illegal immigrants from Texas arrived in Washington on April 13. The illegal aliens were dropped off between Union Station and the ...

Frank James Now a Suspect in New York Subway Shooting

By Zachary Stieber The man authorities deemed April 12 as a person of interest in a shooting that took place earlier in the day on ...

Facebook Silent on FBI Informants Using Platform to Push Whitmer Kidnap Plot

By Ken Silva On Oct. 28, 2020, Facebook CEO Mark Zuckerberg testified in Congress about what he was doing to monitor online extremism, citing his company’s work ...

Takeover Speculation Grows After Elon Musk Turns Down Twitter Board Seat

By Andrew Moran Elon Musk will no longer join Twitter’s board of directors, the social network has officially announced. Twitter CEO Parag Agrawal confirmed on April 10 that Musk ...

Several People Shot, Explosives Found in Brooklyn Subway Station: FDNY

By Jack Phillips Several people were shot and several explosive devices were reportedly found at a subway station in Brooklyn on Tuesday, said the Fire ...

California Looks to Reduce Weekly Work Hours to 32

By Alice Sun California legislators proposed a new bill that would allow employees of bigger companies to work fewer hours in a week without losing ...

1,634 Non-Citizens Under Investigation for Attempting to Register to Vote in Georgia

By Steven Kovac Georgia’s Secretary of State Brad Raffensperger has referred 1,634 cases of non-citizens attempting to register to vote for investigation and potential prosecution. Attempting ...

Texas Clogs Ports of Entry as State Forces Attention on Illegal Immigration

By Charlotte Cuthbertson Several ports of entry between Texas and Mexico have suffered major slowdowns in recent days as the Texas Department of Public Safety ...