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

Pennsylvania GOP Legislature Will Seek to Reclaim Power to Appoint Electors: State Senator

By Jack Phillips Pennsylvania State Senator Doug Mastriano, a Republican, said Friday that the GOP-controlled state legislature will make a bid to reclaim its power to ...

GOP Poll Observer: Hundreds of Thousands of Votes Counted With No ‘Oversight’ in Pennsylvania

By Jack Phillips Several witnesses who spoke during a Republican state Senate-held event in Pennsylvania said that hundreds of thousands of votes were allegedly counted ...

Regulators to End Preferential Treatment Given to US-Listed Chinese Companies

By Emel Akan WASHINGTON—U.S. regulators are moving forward with a plan to crack down on Chinese companies traded in U.S. exchanges, overturning an agreement signed ...

Trump Lawyer Jenna Ellis Says She’s Received ‘Hundreds’ of Threats

By Jack Phillips President Donald Trump’s lawyer Jenna Ellis said she’s received “hundreds” of threats, including anonymous phone calls, in recent days. Ellis, in an interview with ...

Chinese Leader Xi Congratulates Biden As Trump Reportedly Moving to Take Tough Action Against Regime

By Nicole Hao Chinese leader Xi Jinping has sent a congratulatory message to U.S. presidential candidate Joe Biden, after regime officials initially indicated it would avoid such an ...

Truth-Seeking Americans Have the Moral High Ground

By The EPOCH Times Editorial Board When communists such as Mao Zedong, Fidel Castro, or Vladimir Lenin overthrew governments in order to impose totalitarian control, ...

Larry Elder: Race Politics Are Based on a False Narrative

By Ella Kietlinska and Joshua Phillipp Race politics in the United States, which are based on “critical race theory,” are unfounded, according to author, filmmaker, ...

Election Findings Could ‘Easily’ Overturn 3 States, Data Analyst Concludes

By Charlotte Cuthbertson WASHINGTON—The former data and strategy director for President Donald Trump’s 2016 election campaign says he has found enough evidence to suggest the ...

Sidney Powell Suit Makes 30 Allegations in Bid to Invalidate Georgia Election Results

By Petr Svab A lawsuit released by lawyers led by former federal prosecutor Sidney Powell makes 30 allegations of electoral fraud and other illegal and irregular activities ...

Poll Watcher Describes Pennsylvania Election Irregularities, Including 47 Missing USB Cards

By Tom Ozimek A Republican poll observer from Pennsylvania’s Delaware County told a Senate GOP Policy Committee hearing in Gettysburg on Wednesday that he witnessed ...

Sidney Powell Files Lawsuit in Georgia, Alleging ‘Massive Election Fraud’

By Mimi Nguyen Li Attorney Sidney Powell filed a federal lawsuit late on Nov. 25 that alleges “massive election fraud” and multiple violations of the Constitution and Georgia’s state laws ...

Infographic: The 4-Year-Long Campaign Against Trump

By The EPOCH Times Staff News Analysis The post-election push to pressure President Donald Trump to concede, despite numerous credible allegations of voter fraud and ongoing legal challenges, ...