USNN World News

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

Economy

Oil Prices Sink After OPEC+ Agrees to Boost Production in June

by USNN World NewsMay 5, 2025May 5, 2025

NATIONAL NEWS

Actually, Justice Sotomayor, Everything Has Changed About The Abortion Debate Since Roe

By Tiana Lowe Justice Sonia Sotomayor bases part of her abortion jurisprudence on demonstrably faulty suppositions about the developing science of pregnancy and contraception. When the ...

Ghislaine Maxwell sex abuse trial enters fourth day after first accuser testifies

By Luc Cohen NEW YORK, Dec 2 (Reuters) – Ghislaine Maxwell’s sex abuse trial was set to enter its fourth day on Thursday, following emotional ...

Other Senate Democrats face risks in voting for Build Back Better

By Moshe Hill President Joe Biden’s “Build Back Better” legislation is on the docket for the Senate. All eyes are on Democratic Sens. Joe Manchin and Kyrsten Sinema. ...

Russia Fines Google 3 Million Roubles for Not Deleting Banned Content

By Reuters MOSCOW—A Moscow court fined Alphabet Inc.’s Google 3 million roubles ($400,386) on Monday for not deleting content that is deemed illegal, part of a wider ...

Pentagon Orders New Probe into Syria Airstrike that Killed Dozens of Civilians

By Isabel Van Brugen Defense Secretary Lloyd Austin has ordered a new investigation into a 2019 airstrike in Syria that led to multiple civilian deaths, Pentagon press secretary John Kirby announced on Monday. The ...

US Stock Futures, Oil Rebound as Investors Buy Omicron Dip

By Tom Ozimek U.S. stock futures and crude oil prices led a market rebound on Nov. 29 following sharp selloffs in risk assets on Black ...

Cyber Monday Sales Expected to Slow as Shoppers See Fewer Deals

By Reuters U.S. retailers are estimated to generate online sales of up to $11.3 billion on Cyber Monday, a decline in growth from a year ...

Biden’s Build Back Better bill fails Manchin’s three-part test

By Conn Carroll West Virginia Sen. Joe Manchin has a three-part test he applies to new legislation, and President Joe Biden’s Build Back Better agenda ...

Fauci hit by Cruz missile in war of words over ‘science’

By Daniel Chaitin, Deputy News Editor Sen. Ted Cruz fired back at Dr. Anthony Fauci in a cocktail of words mixing science, politics, and COVID-19. The Texas Republican sent ...

Goldman Sachs Slams Omicron Panic: ‘Mutation Is Unlikely to Be More Malicious’

By Jack Phillips Investment bank Goldman Sachs has asserted that concerns over the COVID-19 Omicron variant likely are unfounded. “This mutation is unlikely to be more malicious and that the ...

Any civil rights lawsuit against Kyle Rittenhouse ‘will fail,’ legal analysts say

By Kaelan Deese, Breaking News Reporter Following the jury’s acquittal of Kyle Rittenhouse , the teenager who beat felony homicide charges over the deaths of two protesters in ...

Buyer’s remorse: Five California laws that have come back to bite them

By Tori Richards, Investigative Reporter California has a propensity for starting trends that sweep through the rest of the nation, whether it was the hippie ...