USNN World News

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

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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

Economy

Trump Says Americans Should Be Patient After US Economy Contracts

by USNN World NewsApril 30, 2025June 5, 2025

Economy

US Job Openings Slide to 6-Month Low, Layoffs Fall

by USNN World NewsApril 29, 2025April 29, 2025

Economy

US Homeownership Rate Falls to Lowest Level in 5 Years

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NATIONAL NEWS

Trump Says He’s in Talks With Putin About US–Russia Economic Deal

By Ryan Morgan On the third anniversary of Russia’s full-scale military invasion of Ukraine, U.S. President Donald Trump announced he’s had serious discussions with Russian ...

DeSantis Launches Florida’s Own Version of DOGE

By Tom Ozimek Florida Gov. Ron DeSantis said Monday that he is launching a state version of the U.S. Department of Government Efficiency (DOGE) initiative. Like ...

US Treasury, State Imposes Maximum Pressure With New Sanctions on Iran

By Chase Smith The U.S. State and Treasury departments imposed a new wave of sanctions on Iran’s petroleum and petrochemical industry on Monday, targeting more ...

Federal Judge Declines to Restore AP’s Access to Oval Office

By Stacy Robinson WASHINGTON—A federal judge on Feb. 24 declined The Associated Press’s emergency bid to force the White House to restore its press access ...

Musk Says Federal Workers Must Report Weekly Accomplishments or Face Termination

By Tom Ozimek Elon Musk, in his role at the Department of Government Efficiency (DOGE), announced Saturday that President Donald Trump has directed him to ...

Trump Signals He’s Open to Multiple Budget Bills After Earlier Endorsing Single Bill Approach

By Arjun Singh WASHINGTON—President Donald Trump on Feb. 21 said he was open to multiple budget bills to fund his policy initiatives after earlier this ...

Not Bluffing: Donald Trump and Canada’s Role in the Defense of North America

By Barry Sheehy The Donald Trump administration appears serious about bolstering the defence of North America—ranging from Panama to the Arctic Ocean. In addition to ...

Mangione Appears in New York Court for First Time Since Arraignment

By T. J. Muscaro Luigi Mangione, the man accused of killing UnitedHealthcare CEO Brian Thompson in New York City on Dec. 4, appeared before the ...

Trump, Maine Governor Clash Over Men Competing in Women’s Sports

By Aaron Gifford President Donald Trump and Maine Gov. Janet Mills got into a verbal altercation over transgender participation in sports during a White House ...

Kash Patel Confirmed as FBI Director

By Nathan Worcester WASHINGTON—The Senate on Feb. 20 confirmed Kash Patel as director of the FBI. Senators voted 51–49 to confirm Patel, who gained prominence for ...

Federal Judge Allows Trump Admin to Continue Layoffs of Federal Workers

By Stacy Robinson WASHINGTON—A federal judge on Feb. 20 declined to block for now downsizing efforts by the Trump administration, including mass firings and buyout ...

Trump to Order Agencies to Terminate All Federal Assistance for Illegal Immigrants

By Jacob Burg President Donald Trump will sign an executive order on Feb. 19 directing all agencies to identify any federally funded programs that provide ...