USNN World News

Economy

Market Review: Stocks Roar Back in 5-Day Winning Streak

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Economy

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

by USNN World NewsMay 17, 2025June 4, 2025

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

NATIONAL NEWS

Biden Wants His Record Out There as 2024 Approaches

By Nathan Worcester As Democrats quietly speculate about the upcoming presidential race, President Joe Biden on March 1 stressed unity and his party’s legislative record ...

DOJ Calls on Congress to Renew Spying Law FBI Used to Justifying Searching Americans’ Data

By Bill Pan The Biden administration on Tuesday called on Congress to renew a surveillance law set to expire at the end of the year, ...

Senate Votes Unanimously to Declassify COVID-19 Wuhan Lab Leak Intelligence

By Caden Pearson The U.S. Senate on March 1 unanimously passed a bill requiring the Biden administration to declassify intelligence related to the origins of ...

California’s Los Angeles County Removes 1.2 Million Ineligible Voters

By Zachary Stieber Los Angeles County officials have removed 1.2 million people from voter rolls. Voters who were designated ineligible or inactive were removed, officials told Judicial ...

House Committee Passes Resolution Against New Biden Water Rule

By Nathan Worcester The House Transportation and Infrastructure Committee approved a joint resolution against the Biden administration’s new Waters of the United States (WOTUS) rule ...

Jan. 6 Defendants Can Access Newly Available Security Footage: Republicans

By Zachary Stieber Jan. 6 defendants can access at least some of the security footage that the GOP has made available to Tucker Carlson, top ...

Top Georgia Official Calls on McCarthy to Oppose ‘Federal Takeover of Elections’

By Caden Pearson Georgia Secretary of State Brad Raffensperger has called on House Speaker Kevin McCarthy to oppose a federal takeover of elections and support ...

Election Reformers Get New Tool to Pressure States to Clean Up Voter Rolls

By Steven Kovac A new interactive website database is now available free to individual citizens and election reform groups across the country to help in the fight ...

Almost 80 Percent of Americans Aged 17–24 Unfit for Military Service

By Autumn Spredemann It’s no secret that America’s military is struggling to find people who are fit for service these days. Maintaining health and wellness ...

White House Orders TikTok Purge from Government Devices

By Caden Pearson The White House on Monday ordered the removal of the Chinese-owned TikTok app from all government devices and systems within 30 days ...

DeSantis Signs Bill Ending Disney’s ‘Corporate Kingdom’

By Dan M. Berger Florida Gov. Ron DeSantis consigned Disney World’s self-governing status to the historical dustbin on Feb. 27 as he signed the bill ...

Republicans Sound Alarm on Beijing’s Efforts to Spread Propaganda in Western Outlets

By Eva Fu and Frank Fang Republican lawmakers are expressing alarm over Beijing’s persistent efforts to use Western outlets to spread its narratives, including claims ...