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

Democrats’ Proposed Build Back Better Act a Gift to Unions, Report Says

By Matthew Vadum Provisions in the Democrats’ proposed “Build Back Better Act,” a massive social spending bill that will cost trillions of dollars, will boost ...

‘Many’ More Durham Indictments Likely in Connection to Steele Dossier: Former Director of National Intelligence

By Jack Phillips Former Director of National Intelligence John Ratcliffe said he expects special counsel John Durham’s team to indict more suspects in connection to the origins ...

Number of Americans in Hospital With COVID-19 Drops to Lowest Number in Months

By Zachary Stieber The number of hospital patients in the United States with COVID-19 has dropped consistently in recent weeks, reaching a low not seen since early ...

California Governor Out of Public Sight After Vaccine Booster Shot 11 Days Ago

By Ivan Pentchoukov California Gov. Gavin Newsom has remained out of public sight since getting a CCP virus vaccine booster shot on Oct. 27. The governor’s office released a surprising announcement ...

Biden: Illegal Immigrants Separated During Trump Administration ‘Deserve’ Compensation

By Zachary Stieber Illegal immigrant families who were separated during the Trump administration after crossing the border should be paid, President Joe Biden said Saturday. “If in fact, ...

Federal Court Blocks Biden Administration’s Private Business COVID-19 Vaccine Mandate

By Zachary Stieber A federal appeals court on Saturday blocked the Biden administration’s private employer COVID-19 vaccine mandate, asserting there may be constitutional issues with the ...

Virginia Republicans Flip State House to Complete Election Sweep

By Ivan Pentchoukov Republicans in Virginia gained control of the state’s House of Delegates after Democratic leaders on Nov. 5 conceded that the GOP has gained the majority. The concession ...

RNC Challenges Biden Vaccine Mandate With Lawsuit

By Tammy Hung The Republican National Committee (RNC) on Nov. 5 filed a lawsuit against the Occupational Safety and Health Administration (OSHA) and the Department of ...

Labor Secretary Insists OSHA COVID-19 Vaccine Rule Is Not a Mandate

By Zachary Stieber Labor Secretary Marty Walsh, during a media blitz on Thursday, said that the new Biden administration rule that requires private employees to ...

Newly-Elected Virginia Attorney General Says He Plans to Investigate Sexual Assaults at Loudoun County Schools

By Katabella Roberts Virginia’s newly-elected Attorney General Jason Miyares on Thursday said that he plans to investigate the alleged sexual assaults in Loudoun County Public Schools and will ...

Ben Shapiro’s Daily Wire Suing Biden Administration Over ‘Tyrannical’ Vaccine Mandate

By Katabella Roberts The Daily Wire, a news website founded by conservative political commentator Ben Shapiro, is suing the Biden administration over its “tyrannical vaccine mandate” requiring ...

Florida Governor DeSantis Announces Lawsuit Against Biden’s ‘Unconstitutional’ Employer Vaccine Mandate

By Katabella Roberts Florida Gov. Ron DeSantis announced on Nov. 4 that he is suing the Biden administration over its “unconstitutional” employer vaccine mandate being issued through the ...