USNN World News

Economy

US Pending Home Sales Dip By 3.4 Percent to ‘Lowest Level on Record’: Report

by USNN World NewsMay 15, 2025May 15, 2025

Economy

The Fed Fears Inflation While Ignoring Deflation

by USNN World NewsMay 14, 2025May 14, 2025

Economy

Student Loan Delinquencies Soar as Pandemic-Era Protections Expire

by USNN World NewsMay 13, 2025October 29, 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

NATIONAL NEWS

Absence of 3 Conservative Judges From State of the Union Address Turns Political

By Alice Giordano Three of the Supreme Court’s most conservative justices were conspicuously absent from President Joe Biden’s State of the Union (SOTU) address. The no-shows ...

Judge Blocks US Administration From Illegally Diverting Border Wall Funds

By Caden Pearson A federal judge on Friday blocked the Biden administration from unlawfully redirecting taxpayer funds away from the construction of a wall along ...

Trump-Backed Leaders Take Helm at RNC After McDaniel Exits

By Lawrence Wilson HOUSTON—The Republican National Committee (RNC) has elected new leadership endorsed by former President Donald Trump after Ronna McDaniel, the group’s longest-serving chair, ...

Multiple US Agencies to Examine Possible Spy Balloon Found off Alaska Coast: Pentagon

By Caden Pearson Multiple U.S. agencies will analyze the debris of an unidentified high-altitude balloon recovered in waters near Alaska, according to the Pentagon. Last week, ...

US Forces Shoot Down Houthi Missile, Drones Targeting Warship in Red Sea

By Aldgra Fredly A U.S. destroyer shot down an anti-ship ballistic missile and three unmanned aerial vehicles fired by the Iranian-backed Houthi rebel group toward ...

Nikki Haley Ends 2024 Presidential Bid, Doesn’t Endorse Trump

By Jackson Richman and Samantha Flom Republican presidential candidate Nikki Haley ended her 2024 bid on March 6—without backing the party’s presumptive nominee, former President ...

Biden Loses American Samoa Caucus to Obscure Candidate

By Jack Phillips President Joe Biden suffered one loss on Super Tuesday. It was to little-known candidate Jason Palmer in the Democratic Primary’s caucus in American ...

Major Trump Donor Continues to Back RFK Jr., Filings Show

By Terri Wu WASHINGTON—Trailing her Republican rival by hundreds of delegates, former South Carolina Gov. Nikki Haley has ignored calls for her to drop out ...

Witness Prepared to Testify That Georgia Trump Prosecutor Lied: Filing

By Zachary Stieber A special prosecutor, who was tasked with prosecuting former President Donald Trump, is accused of lying about when his romantic relationship began ...

Millions Head to the Polls for Super Tuesday

By The Epoch Times Staff What’s happening today: 15 states and one territory are holding presidential primaries. Read more here. Several of those states have Congressional primary ...

The IRS is focusing its tax enforcement efforts on several categories of taxpayers in the 2024 tax season.

By Tom Ozimek Bolstered by a $60 billion cash infusion, the Internal Revenue Service (IRS) has ramped up its enforcement activities in order to boost ...

Trump’s 2024 Election Delegate Count Surges, Bringing Him Closer to Nomination

By Jack Phillips Former President Donald Trump on Saturday won handily in three states over the weekend, which awarded even more delegates for the GOP ...