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

Powell: Dominion Server Removed From Fulton County While Lawyers Sought Restraining Order

By Ivan Pentchoukov Attorney Sidney Powell said on Monday that someone had removed a Dominion Voting Systems server from a recount center in Fulton County, Georgia. “Someone went down to ...

Fulton County ‘Cut Corners’ in 2nd Recount: Georgia Secretary of State

By Zachary Stieber Georgia’s most populous county “cut corners” during the second recount of the Nov. 3 election, the official overseeing the state’s elections said Tuesday. “Us and ...

Michigan Poll Observer: Military Ballots Looked Like ‘Xerox Copies,’ All for Biden

By Jack Phillips A woman who said she was a poll observer at the TCF Center in Detroit on Election Day testified in front of ...

Trump Ballots Defaulted and Switched to Biden Votes on Dominion System: Maricopa GOP Chairwoman

By Isabel Van Brugen Maricopa County GOP chairwoman Linda Brickman on Nov. 30 testified before members of the Arizona State Legislature that she personally observed votes for President Donald Trump being ...

Illegal Money-for-Votes Raffles Conducted in Several States in 2020 Election

By Ivan Pentchoukov The Nevada Native Vote Project posted photos on Facebook on Election Day of smiling voters holding $25 gift cards after handing over their ballots. The ...

Up to 280,000 Ballots ‘Disappeared’ After Trip to Pennsylvania From NY: Amistad Project Director

By Jack Phillips As many as 288,000 ballots for the 2020 U.S. election “disappeared” in Lancaster, Pennsylvania, after being transported by truck from New York, according to ...

Michigan House Speaker: Rudy Giuliani to Testify to Michigan State House

By Jack Phillips President Donald Trump’s lawyer Rudy Giuliani will testify in front of the Michigan State House, according to House Speaker Lee Chatfield. Chatfield, a Republican, wrote Tuesday that ...

McEnany: Watch Nevada as Trump Campaign Deposes Witnesses

By Zachary Stieber A President Donald Trump campaign adviser said Monday that people should watch Nevada this week as the campaign prepares to depose witnesses in an ...

Arizona Lawmakers Call for Resolution to Hold Back Electoral College Votes

By Bowen Xiao At a public hearing in Arizona with select members of the state legislature and members of President Donald Trump’s legal team, lawmakers called for ...

Poll Observer: ‘Large Percentage’ of People Who ‘Just Moved’ to Arizona Voted

By Jack Phillips A woman who said she worked as a volunteer poll observer in Arizona’s Pima County claimed she was told by election officials to allow people ...

Trump Documentary Director: ‘We’re Still Living in the Coup’

By Li Hai and Jan Jekielek “We’re still living in the coup, we really are,” Amanda Milius, director of the documentary “The Plot Against the President,” ...

Poll Challenger, Dominion Contractor Say Voting Machines in Detroit Were Connected to Internet

By Bowen Xiao DETROIT—A contractor for Dominion Voting Systems who performed IT work at the TCF Center in Michigan and a former state senator who was a ...