USNN World News

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

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

NATIONAL NEWS

Philadelphia Dem elections judge admits taking bribes to inflate vote counts

By Bradford Betz | Fox News A former Democratic elections judge has pleaded guilty for his role in accepting bribes to cast fraudulent ballots and certifying false ...

Sanders delegates push back at agreements prohibiting convention dissent: ‘It’s ridiculous’

By Paul Steinhauser | Fox News Sen. Bernie Sanders’ political team – in an apparent bid for party unity – is asking supporters chosen to represent the former presidential ...

Injured bald eagle rescued from California interstate

By James Rogers | Fox News In a Facebook post, California Highway Patrol-Redding explained that it received a report of the injured eagle blocking a lane on ...

NASA will pay people to spend 8 months in a lockdown to simulate missions to Mars and the moon

By Chris Ciaccia | Fox News NASA’s long-term goal is to have astronauts head to Mars in the 2030s, but before it gets there, it’s going to pay people to ...

‘Enough is enough’: Judge Napolitano reacts to calls for NYC lockdown to end

By Julia Musto | Fox News It’s high time for New York — and America — to return to “normal society” with COVID-19 health and safety measures in place to help mitigate ...

Gregg Jarrett: Biden turning to ‘deflection and diversion’ amid new questions about son’s Ukraine work

By Julia Musto | Fox News Joe Biden is trying to deflect legitimate questions surrounding his son Hunter’s 2014 work in Ukraine on the board of natural gas company Burisma Holdings, Fox News ...

‘Shady backroom deal’ could swing upcoming Nevada primary election, RNC tells state attorney general

By Gregg Re | Fox News Together with the Nevada GOP, Republican National Committee (RNC) chairwoman Ronna McDaniel on Wednesday demanded the state investigate what she called ...

Gov. Andrew Cuomo gets a pass from CNN on nursing home policy controversy

By Brian Flood | Fox News New York Gov. Andrew Cuomo is being accused of failing to protect nursing home residents during the coronavirus pandemic, which one state representative called an “inexcusable ...

California opens up coronavirus funding for immigrants in state illegally, faces backlash

By Edmund DeMarche | Fox News Undocumented immigrants in California are now allowed to apply for the state’s coronavirus relief program that will pay $500 per person and up ...

Trump blasts ’60 Minutes,’ ‘creep’ HHS whistleblower after broadcast

By Edmund DeMarche | Fox News President Trump late Sunday accused CBS’ “60 Minutes” of putting the spotlight on another “Fake Whistleblower” who wants to inflict damage ...

AOC allegedly on hook for unpaid 7-year-old tax bill: report

By Carl Campanile | New York Post Rep. Alexandria Ocasio-Cortez wants to raise taxes on the rich — just not pay her own. The Democratic socialist congresswoman from the Bronx ...

Los Angeles fire, explosion leave at least 11 firefighters injured, all expected to survive: LAFD

By Brie Stimson | Fox News A fire and explosion at a hash oil manufacturer in the Toy District of downtown Los Angeles on Saturday evening left at least 11 firefighters injured, according to ...