USNN World News

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

Economy

Market Review: S&P 500 and Dow Achieve Nine-Day Rally

by USNN World NewsMay 3, 2025May 3, 2025

NATIONAL NEWS

Recount Confirms Trump Won Michigan County That Reported Biden Win on Election Night

By Zachary Stieber A hand recount on Wednesday confirmed that a Michigan county falsely reported on election night a win for Democratic presidential candidate Joe Biden. The recount ...

Trump: Republican Senators Should Object to Electoral College Votes

By Zachary Stieber President Donald Trump on Thursday urged senators to object to electoral votes during next month’s joint session of Congress. Trump made the call as ...

Pennsylvania ‘Flagrantly Violated’ Laws Ahead of Election, Starr Says

By Jack Phillips Former independent counsel Ken Starr testified at a Senate panel hearing that Pennsylvania’s last-minute changes to election laws before the Nov. 3 election were ...

Michigan Secretary of State Refuses to Testify to State Legislature on Election

By Zachary Stieber Michigan’s top election official has declined to appear before the state legislature to testify as lawmakers probe alleged election irregularities. “I am aware ...

Jenna Ellis: State Legislatures Key in Trump’s Path to Victory

By Ivan Pentchoukov and Jen Jekielek President Donald Trump’s winning path for the 2020 election runs through the state legislatures in Pennsylvania, Georgia, Michigan, Wisconsin, ...

Trump Lawyer: Campaign Wasn’t ‘Allowed a Forensic Audit’ of Nevada Voting Machines

By Jack Phillips One of President Donald Trump’s election lawyers told senators that their team’s efforts in Nevada to obtain evidence to file lawsuits were met with ...

Statistical Model Indicates Trump Actually Won Majorities in Five Disputed States and 49.68 Pecent of the Vote in a Sixth

By Herschel Smith 1. Our model explains 96% of county-level variance in Trump’s two-party vote share with four demographic variables (non-college white, college-educated white, black ...

Foreign Interference in US Election

By Hal Turner Radio Show News Desk Director of National Intelligence, Dan Ratcliff, has declared there WAS foreign interference in the November 3 Presidential Election ...

US companies riddled with members of Chinese Communist Party: Devine

By Miranda Devine As we try to come to terms with the extent of Chinese influence over the Biden family, a leaked database of registered ...

Chinese Regime Rushes to Destroy Files Overseas as US Cracks Down on Beijing’s Espionage: Leaked Document

By Cathy He, Frank Fang and Eva Fu This story is related to the leaked documents showing US State and Federal Government officials who are ...

Money From Facebook’s Zuckerberg Used to Undermine Election, Violate Law: Report

By Zachary Stieber Hundreds of millions of dollars from Facebook founder Mark Zuckerberg were used to violate election laws, according to a new report. The Amistad Project of ...

Michael Flynn: ‘The American People Have Been Buddy Breathing With Me for 4 Years’

By Janita Kan and Jan Jekielek Retired Army Lt. Gen. Michael Flynn, the former director of national intelligence, said he feels indebted to the American people ...