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

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

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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

‘Quit Building Big’: Space Force Officials Talk Need for Speed and Agility

By Nathan Worcester Defense officials told senators what they think the United States must do to compete with China and other rivals in space. Time, they ...

IRS Spent $10 Million on Weapons Since COVID-19 Pandemic Began: Watchdog

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Trump to Partake in CNN Town Hall

By Jackson Richman Former President Donald Trump, the current frontrunner for the GOP presidential nomination in 2024, is set to participate in a May 10 ...

Biden’s Delayed Offshore Oil and Gas Plan Sparks Pushback From Congress

By John Haughey The U.S. Department of Interior’s (DOI) reauthorization of its five-year National Outer Continental Shelf Oil & Gas Leasing Program is months overdue and ...

Florida May Dodge Catastrophic Seaweed Bullet, Oceanographer Says

By Dan M. Berger In what’s become an annual occurrence, seaweed has begun washing ashore from Miami south to Key West. But a Florida oceanographer says ...

California, New York, Illinois Biggest Losers Amid Exodus to Low-Tax States: IRS

By Bill Pan The latest tax migration data from the Internal Revenue Service (IRS) shows that the exodus of taxpayers from high-tax states continued from ...

Suspect in Killing of 5 People in Texas Was Illegal Immigrant Deported Multiple Times: Sheriff

By Tom Ozimek The suspect who shot and killed five people in Texas—including an 8-year-old child—had been deported from the United States multiple times, according ...

Democrat Cities Have Highest Homicide Rates, Report Finds

By Naveen Athrappully Cities governed by Democrat mayors have seen the largest increases in homicide rates over the past year as well as registered the ...

FBI Warrantless Searches of Americans Dropped 96 Percent in 2022

By Naveen Athrappully Based on a recent government report, under the controversial Section 702 of the Foreign Intelligence Security Act (FISA), there has been a ...

3 Soldiers Killed in Alaska Apache Helicopter Crash Identified

By Melanie Sun The Army has released the identities of the three soldiers who were killed in a crash involving two Apache helicopters on Thursday. The tragic collision near Healy, ...

Appeals Court Upholds Election Integrity Law in Florida

By Gary Bai A federal appeals court on Thursday upheld a law that, among other modifications of election rules, added security measures on the use ...

Federal Court Rejects Google’s Motion to Dismiss Antitrust Lawsuit

By Caden Pearson A Virginia district court on April 28 rejected Google’s request to dismiss an antitrust lawsuit filed by the Department of Justice (DOJ) ...