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

FBI Stole Donald Trump’s Medical Records, Tax Docs from Mar-a-Lago

By M. Dowling Federal Judge Aileen M. Cannon revealed Monday that former President Trump’s medical records and documents related to his accounting information and taxes were seized ...

Judge Grants Trump Motion for Special Master to Review Records Seized by FBI

By Zachary Stieber A U.S. judge on Sept. 5 agreed to insert a special master into the review process for records seized from former President Donald ...

Federal Investigators Exposed to Potentially Privileged Trump Information May Still Be Working on Case

By Zachary Stieber Federal agents who are investigating former President Donald Trump may still be working on the case despite being exposed to potentially privileged information, according ...

California Extends ‘Flex Alert,’ Warns Drivers Not to Charge Electric Cars

By Jack Phillips Authorities in California extended a “Flex Alert” telling residents to conserve energy, including not charging their electric vehicles, on Sunday afternoon and evening. The alert ...

Heritage Foundation’s Oversight Project Files FOIA Lawsuit for Key DOJ, NARA Documents

By Mark Tapscott Attorneys representing the Heritage Foundation’s Oversight Project are suing the Department of Justice (DOJ) and the National Archives and Records Administration (NARA) for refusing ...

Republican Lawmakers Vow to Impeach Biden If GOP Retakes House

By Eva Fu With Republicans bullish about their chances of controlling the House after November’s midterms, some GOP lawmakers are already eyeing to make inroads ...

Trump Claims FBI Searched Teenage Son Barron’s Room

By Jack Phillips Former President Donald Trump on Saturday revealed that the FBI searched his 16-year-old son Barron’s room during the raid on Mar-a-Lago last month. FBI agents “rifled through” ...

US Maintains Trump-Era China Tariffs, While Review Continues

By Alex Wu The U.S. government said that it will continue to impose tariffs on hundreds of billions of dollars worth of Chinese goods on ...

IRS Mistakenly Published Confidential Info of 120,000 Taxpayers

By Mimi Nguyen Ly The Internal Revenue Service (IRS) said on Friday it accidentally exposed but has since removed the confidential financial information of about 120,000 taxpayers. In ...

Biden Administration Refuses GOP Request for Hunter Biden Records

By Zachary Stieber President Joe Biden’s administration is refusing a request from a top lawmaker for records of Biden family financial activity flagged as suspicious. An ...

US Government’s Filter Team Disclosed Potentially Privileged Trump Records to Case Agents

By Zachary Stieber The U.S. Department of Justice (DOJ) team charged with making sure potentially privileged materials seized from former President Donald Trump’s home weren’t viewed by ...

New Documents Show Clear Big Tech-Government Collusion: Lawyer

By Zachary Stieber Newly disclosed documents showing Big Tech companies repeatedly took action after being pressured by White House and other Biden administration officials prove the U.S. government ...