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

House GOP Leader Seeks Documents From Merrick Garland Over Mar-a-Lago Raid

By Jack Phillips House Minority Leader Kevin McCarthy (R-Calif.) and two other top Republicans requested documents and testimony from Attorney General Merrick Garland and FBI Director Christopher ...

US Government Seized Over 11,000 Non-Classified Documents From Trump’s Home

By Zachary Stieber FBI agents seized over 11,000 documents and photographs without classified markings from the home of former President Donald Trump, according to an inventory released ...

Trump, GOP Lawmakers Criticize Biden Over His Speech Targeting ‘MAGA’

By Frank Fang Former President Donald Trump and Republican lawmakers fired back on Thursday after President Joe Biden delivered a prime-time speech centered around warning the public how his ...

GOP Senator to DOJ: Don’t Mess With Whistleblowers

By Naveen Athrappully Senator Chuck Grassley (R-Iowa) has sent a letter to Attorney General Merrick Garland asking that the Department of Justice (DOJ) keep its ...

Over 50 Biden Administration Employees, 12 US Agencies Involved in Social Media Censorship Push: Documents

By Zachary Stieber Over 50 officials in President Joe Biden’s administration across a dozen agencies have been involved with efforts to pressure Big Tech companies to crack ...

Mar-a-Lago Raid Undermines US Credibility, Can Be Exploited by China, Warns Author

By Hannah Ng The Mar-a-Lago raid undermines U.S. credibility in international politics and can be exploited by China, according to Bradley A. Thayer, the director ...

Trump Lawyer Claims She ‘Diligently Searched’ Mar-a-Lago in May, Days Before DOJ Subpoenaed Trump

By Rita Li A lawyer for former President Donald Trump said she had entirely searched “each and every room” at Mar-a-Lago early in May, less than a ...

Whistleblower Lawyer: FBI Agents Have Lost Confidence in Director Wray

By Jack Phillips A lawyer representing several unnamed FBI whistleblowers said Wednesday that agents have lost confidence in the bureau’s leadership amid recent controversy. The FBI and the ...

Trump’s China Tariffs Yield $150 Billion

By Petr Svab Tariffs placed on Chinese imports by President Donald Trump during his term have pulled in more than $150 billion over the past ...

Law Professor Says DOJ Photo of ‘TOP SECRET’ Mar-a-Lago Documents Could Be ‘Misleading’

By Jack Phillips Constitutional lawyer Jonathan Turley wrote that a newly disclosed FBI photo taken at former President Donald Trump’s Mar-a-Lago could leave a “misleading impression.” The image appears to ...

Biden Administration Asks Supreme Court Not to Take Up ‘Insular’ Citizenship Cases

By Naveen Athrappully The Biden administration has asked the U.S. Supreme Court to pass over the opportunity to overrule a series of century-old rulings called ...

U.S. Justice Dept says Trump team may have moved classified papers amid probe

By Sarah N. Lynch and Dan Whitcomb WASHINGTON, Aug 30 (Reuters) – The U.S. Justice Department said it had evidence that classified documents were deliberately ...