USNN World News

Economy

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Economy

Moody’s Strips US of Final AAA Rating Over Rising Debt, Interest Costs

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Economy

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

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Economy

The Fed Fears Inflation While Ignoring Deflation

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Economy

Student Loan Delinquencies Soar as Pandemic-Era Protections Expire

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Economy

US Inflation Slows to Lowest Level Since February 2021

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Economy

Markets Rally After US, China Announce 90-day Tariff Reductions

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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

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Economy

How Major US Stock Indexes Fared May 7

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Economy

How Major US Stock Indexes Fared May 6

by USNN World NewsMay 6, 2025May 6, 2025

NATIONAL NEWS

DeSantis Signs Bills Banning Transgender Procedures, Males From Women’s Bathrooms, Forced Pronouns in Schools

By Dan M. Berger Five bills designed to “let kids be kids” were signed into law by Florida Gov. Ron DeSantis on May 17. One outlaws ...

Rep. Greene Introduces Articles of Impeachment Against Garland

By Jackson Richman Rep. Marjorie Taylor Greene (R-Ga.) announced on May 17 that she has introduced articles of impeachment against U.S. Attorney General Merrick Garland ...

Durham Report Shows FBI Repeatedly Hamstrung Clinton Investigations

By Petr Svab FBI officials intervened again and again ahead of the 2016 election to limit agents’ ability to investigate potential criminal activity related to ...

‘Bomb in a China Shop’: AI to Wipe Out Jobs, Create Election Uncertainties, Congress Hears

By Andrew Thornebrooke WASHINGTON—Artificial Intelligence (AI) will drive massive disruptions in the American job sector and contribute to much more fraught election cycles as new ...

McCarthy Says Biden Might Have a ‘Secret Plan’ on Debt Ceiling

By Tom Ozimek As the debt ceiling standoff continues to grip Washington, House Speaker Kevin McCarthy (R-Calif.) said Monday that President Joe Biden might have a ...

GOP Presidential Candidates React to Durham Report: ‘Shut Down the FBI’

By Savannah Hulsey Pointer and Ivan Pentchoukov Two Republican presidential candidates have responded to news that special counsel John Durham’s report further discredits the FBI’s ...

IRS Whistleblower Removed From Hunter Biden Criminal Investigation, at Request of DOJ, Attorneys Say

By Mimi Nguyen Ly The Internal Revenue Service (IRS) removed a whistleblower and his team from a criminal investigation into Hunter Biden’s taxes and business ...

Durham Report Reveals Massive Failures in FBI’s Investigation of Trump

By Ivan Pentchoukov The FBI didn’t interview the people connected to the information that the agency used to open a full investigation of the Trump ...

2 Dead, 5 Injured in Arizona Border Town Shooting; Police Searching for Suspect

By Bill Pan A shooting in the border town of Yuma, Arizona, on Saturday night left two people dead and five others injured, police said. The ...

Biden Administration and GOP Lawmakers Trade Jabs Over Impending Debt Ceiling Deadline

By Ross Muscato As the United States hurtles yet again toward a deadline by which either its debt ceiling is raised or it defaults on ...

Big Banks to Pay Billions More in FDIC Fees After Bank Failures

By Jane Nguyen Big banks in the United States will bear billions of dollars in extra fees to replenish a deposit insurance fund that was ...

RFK Jr. Claims He Can Beat Joe Biden in 2024 Primary

By Jack Phillips Democratic presidential candidate Robert F. Kennedy Jr. said that he believes he has a path to defeating President Joe Biden in a ...