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

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Economy

US Pending Home Sales Dip By 3.4 Percent to ‘Lowest Level on Record’: Report

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Economy

The Fed Fears Inflation While Ignoring Deflation

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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

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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

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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

Cancer Trial Using Monoclonal Antibody Finds Remission in Every Patient: Report

By Katabella Roberts A cancer trial has reportedly become the first in the world to completely remove the disease in every patient, according to a study published ...

Elon Musk Says ‘No One in the Media Cares’ About Exposing Jeffrey Epstein’s Alleged Clients

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FBI Has ‘Secure’ Workspace in Law Firm That Represents Democrats: Document

By Zachary Stieber The FBI has a workspace in the same law firm that employed the lawyer who took sketchy Donald Trump-Russia claims to the bureau in ...

DeSantis Signs Nearly $110 Billion ‘Freedom First Budget’

By Jannis Falkenstern PUNTA GORDA, Fla.–Gov Ron DeSantis on June 2 signed what he called the “Freedom First” budget totaling almost $110 billion for fiscal year 2022-2023, ...

Election Integrity Group Unveils Findings on Ballot Trafficking in Arizona

By Allan Stein The election integrity group True the Vote presented Arizona lawmakers with cell phone tracking data showing alleged ballot traffickers visited drop boxes in two of the state’s ...

GOP Rep. Displays Guns During Hearing He Says Will Be Banned by Legislation

By Caden Pearson A Republican lawmaker has used his own firearms as an example of how a ban on high-capacity magazines would target common handguns ...

Barr: US Legal System Is ‘Rigged Against Republicans’

By Rita Li Former Attorney General William Barr called the Russiagate “a dirty political trick” against former President Donald Trump and criticized the justice system as “rigged” ...

19,000 Late, Invalid Ballots Were Counted in Arizona 2020 Election: Report

By Beth Brelje With the 2022 midterm elections around the corner, scrutiny of the 2020 election continues to raise questions about election integrity, including a newly identified ...

Five GOP Senators Seek Info From NIH Acting Director on Royalty Payments to Feds

By Mark Tapscott Five Republican senators have asked National Institutes of Health (NIH) Acting Director Lawrence Tabak for a comprehensive accounting of every royalty payment ...

House Judiciary Committee to Consider Gun Control Bill

By Joseph Lord The House Judiciary Committee will meet in an emergency session to mark up a gun control bill that would impose heavy new ...

Biden Administration’s Biofuel Initiative May be Worse for Environment than Gasoline

By Autumn Spredemann Several long-term studies show the impact of increased corn ethanol production has worse environmental consequences in terms of carbon emissions than ordinary ...

Robot Orders Increase 40 Percent in First Quarter Amid Mass Quits, Labor Shortages: Report

By Katabella Roberts Orders of robots increased 40 percent in the first quarter of 2022, amid soaring inflation and labor shortages, according to a new report by ...