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

Elon Musk Sues OpenAI, CEO Sam Altman Over Microsoft Link

By Tom Ozimek Elon Musk has filed a lawsuit against OpenAI and its co-founders, alleging that they violated the company’s founding agreement by developing artificial ...

Judge to Rule on Fani Willis Disqualification Within 2 Weeks

By Catherine Yang Fulton County Superior Court Judge Scott McAfee heard closing arguments on March 1 on the motion to disqualify Fulton County District Attorney ...

‘This Is Over’: Newt Gingrich Calls on Haley to Drop Out After Her Loss in Michigan GOP Primary

By Aaron Pan Former House Speaker Newt Gingrich called on GOP presidential candidate Nikki Haley to quit the race after she lost to former President ...

Trump Scores 7th Straight Primary Win With Triumph in Michigan

By Nathan Worcester LANSING, Mich.—Former President Donald J. Trump has soundly defeated former South Carolina Gov. Nikki Haley in Michigan’s Feb. 27 Republican presidential primary, ...

Dartmouth, Northwestern, Rice, Vanderbilt Universities Agree to $166 Million Settlement in Price-Fixing Lawsuit

By Naveen Athrappully Four universities have agreed to settle a class-action lawsuit that accused them of engaging in price-fixing admission fees and reducing financial aid ...

Trump Jabs Haley Over Big Donor Loss After Home State Defeat

By Janice Hisle CHARLESTON, S.C.—Before he handed candidate Nikki Haley a double-whammy defeat, breaking two records in her home state on Saturday, former President Donald ...

Trump Lawyers Argue Fani Willis Needs to Testify Again Over Phone Evidence

By Jack Phillips Former President Donald Trump’s lawyers on Sunday afternoon fired back in court against Fulton County District Attorney Fani Willis’s latest filing that ...

Top Republican Reveals New ‘Whistleblower’ in Fani Willis’s Office

By Jack Phillips Rep. Jim Jordan (R-Ohio) revealed on Feb. 23 during the Conservative Political Action Conference (CPAC) that there is a whistleblower in the ...

Trump Easily Defeats Haley in South Carolina, Her Home State

By The Epoch Times Staff Trump cruised to victory in the Palmetto State, with the race called moments after polls closed. Haley, however, has vowed ...

Delegate Math: Haley Campaign Days Are Numbered

By John Haughey Regardless how many delegates, if any, Nikki Haley earns in Feb. 24’s South Carolina Republican primary, the former United Nations ambassador’s presidential ...

Trump Private Investigator: New Phone Data Casts Serious Doubt on Fani Willis Relationship

By Jack Phillips Former President Donald Trump’s Georgia attorneys hired a private investigator to obtain calls between the Fulton County district attorney and her special ...

Muskegon Voter Registration Probe: Michigan Election Integrity Group Wants to Know What Happened

By Steven Kovac Pressure is mounting for action concerning a 2020 incident in which Brianna Hawkins, an employee of GBI Strategies, a campaign services vendor, ...