USNN World News

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

Economy

How Major US Stock Indexes Fared May 6

by USNN World NewsMay 6, 2025May 6, 2025

NATIONAL NEWS

Biden’s IRS Spent Approximately $700,000 on Ammo ‘Between March and June 1’

By AWR Hawkins Rep. Matt Gaetz (R-FL) told Breitbart News Saturday the IRS spent approximately $700,000 “between March and June 1” purchasing ammunition. He noted he ...

Texas GOP Delegates Rebuke Senior Senator Over Gun Control Legislation

By Darlene McCormick Sanchez In a unanimous vote, Texas GOP delegates passed a resolution rebuking their senior U.S. Senator and other Republicans working with Democrats for gun control ...

Gas Prices ‘Killer’ for Biden and Democrats in Midterm Elections: House Republican

By Allan Zhong President Joe Biden and Democrats will pay hard during the coming midterm elections because of soaring gas prices, a House Republican alleged. “I think ...

Democrats Face Turmoil As Concerns Mount About Biden’s Suitability to Run in 2024, Observers Say

By Michael Washburn The widely-expected losses that the Democratic Party will face in the November midterm elections, as voters register their frustration and anger over ...

Progress on Senate Gun Control Package Stalls as Senators Fail to Reach Final Agreement

By Joseph Lord After some optimistic signs for Democrats hoping to reach a bipartisan agreement on a gun control package, progress in the negotiations has ...

Florida to Go After Parents Who Pay Cartels to Smuggle Their Children Into the US

By Charlotte Cuthbertson Florida Gov. Ron DeSantis is looking to investigate and prosecute parents who pay transnational criminal organizations to smuggle their children illegally across ...

Reversing 2018 Ruling, Iowa Supreme Court Finds State Constitution Does Not Protect Abortion Rights

By Matthew Vadum The Supreme Court of Iowa on June 17 overturned a four-year-old decision it made holding that the Iowa Constitution guarantees the right to abortion, and ...

Liberal Virginia Prosecutor Removed From Criminal Case for ‘Deliberately Misleading Court’

By Katabella Roberts A liberal prosecutor in Loudoun County, Virginia, has been removed and disqualified from a serial burglary case by a judge for allegedly “deliberately ...

Joe Biden Says He is Unpopular Because Americans Are Mentally Unwell

By Christina Laila Joe Biden’s poll collapse continues with the latest CIVIQS poll showing the man who we were told got 81 million votes for president just over a ...

Parents Rally Over ‘Malicious Misgendering’ School Policy in Northern Virginia

By Terri Wu FAIRFAX COUNTY, Va.—A group of parents rallied outside the Fairfax County school board meeting on Thursday night to protest the board’s new ...

US Refiners Boost Heavy Crude Imports as Biden Threatens Executive Action

By Katabella Roberts The United States has increased heavy crude imports amid Western sanctions on Russia and President Joe Biden’s letter calling on U.S. energy producers to ...

‘A Great Night!’: Trump Celebrates Primary Wins in Nevada, North Dakota, South Carolina

By Frank Fang Former President Donald Trump was excited to see many political candidates he endorsed have secured victory in recent primary races. “Every single endorsed by Trump ...