USNN World News

Economy

New Vehicle Inventory in April Declines, Affordability Worsens: Cox Automotive Analysis

by USNN World NewsMay 19, 2025May 19, 2025

Economy

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

by USNN World NewsMay 18, 2025May 18, 2025

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

NATIONAL NEWS

January 6 Committee Withdraws Subpoena for Trump

By Tom Ozimek The Jan. 6 House select committee withdraw its subpoena of former President Donald Trump, which prompted a victory lap from his attorney and the former ...

US Virgin Islands Sues JPMorgan Chase for Allegedly Aiding Jeffrey Epstein’s Sex Trafficking Scheme

By Katabella Roberts The U.S. Virgin Islands is suing JPMorgan Chase & Co. over allegations that the banking giant aided convicted pedophile Jeffrey Epstein in illegally sex trafficking ...

US Chip Ban on China Requires Strict Enforcement to Thwart Circumvention by Beijing: Experts

By Venus Upadhayaya While many have credited the Biden administration’s extensive export bans on semiconductor technology to China as dealing a huge blow to the ...

UFO Topic Continues to Stir Debate With More Sightings, Studies

By Allan Stein FLAGSTAFF, Ariz.—The truth about unidentified flying objects (UFOs) is still out there. Yet every so often, the Lowell Observatory in Flagstaff, Arizona, gets ...

Gun Owners of America Slams Omnibus Bill for Advancing Biden Gun-Control Agenda

By Michael Clements National gun rights organization, Gun Owners of America, raised alarm over the FY 2023 Omnibus Appropriations bill passed by Congress, saying it ...

10 Convicted in Attempted Killing of Slugger David Ortiz

By The Associated Press A Dominican court convicted 10 people involved in the 2019 attempted killing of baseball Hall of Famer David Ortiz, authorities confirmed on ...

McCarthy Says US Capitol Complex Will Reopen to the People on Jan. 3

By Mark Tapscott Members of the public will be able to enter the U.S. Capitol on Jan. 3 for the first time since March 2020, ...

Constitutional Law Professor Issues Warning After FBI Criticizes ‘Conspiracy Theorists’

By Jack Phillips Constitutional law professor Jonathan Turley sounded the alarm over the FBI’s recent statement decrying “conspiracy theorists” and “disinformation” after recent installments of the ...

80-Year-Old California Store Owner Who Shot Robber Dies

By The Associated Press NORCO, Calif.—An 80-year-old Southern California liquor store owner who opened fire with a shotgun and wounded a would-be armed robber this summer has died, the store reported Tuesday. Craig ...

Kari Lake Appeals Judge’s Ruling on Arizona Election Lawsuit

By Caden Pearson Arizona Republican gubernatorial candidate Kari Lake has filed an appeal against a Maricopa County judge’s ruling to dismiss her lawsuit challenging the midterm election results. Lake filed a notice ...

Ron DeSantis Offered Libs of TikTok Creator Refuge in Governor’s Mansion During Doxxing Threat

By Jackson Elliott When the press doxxed Libs of TikTok creator Chaya Raichik, Florida Gov. Ron DeSantis said she could stay in the governor’s mansion. “If ...

Greg Abbott Pushes Back on White House Criticism After Busing Illegal Aliens to VP’s Home on Christmas Eve

By Caden Pearson Gov. Greg Abbott (R-Texas) has defended busing more illegal immigrants to Washington, D.C., on Christmas Eve after the White House issued a rebuke. Texas sent ...