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

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Economy

How Major US Stock Indexes Fared May 7

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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

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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

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NATIONAL NEWS

13 Trump Appointees Face Confirmation Hearings This Week

By Andrew Thornebrooke More than a dozen of President-elect Donald Trump’s Cabinet nominees will face confirmation hearings in the Senate this week. The back-to-back Senate hearings ...

DOJ Confirms Special Counsel Jack Smith Has Resigned

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Weather, Power, and Water Issues Persist in Los Angeles’ Eaton Fire Area

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Wildfires and Climate Policies Driving Up California’s Electricity Rates

By Jane Yang Not only are electricity rates in California among the highest in the nation, they’re also growing faster than in other states, according ...

The Lawsuits Targeting President-elect Trump

By Sam Dorman the_lawsuits_targeting_presidentelect_trumpDownload

Death Toll Rises to 10 as Thousands of Homes Destroyed in LA Fires

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Trump Sentenced With No Penalties, Jail Time in NY Business Records Case

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Rep. Lauren Boebert Pushes to Abolish the ATF

By Nathan Worcester Rep. Lauren Boebert (R-Colo.) has joined Rep. Eric Burlison (R-Mo.) in introducing legislation to abolish the Bureau of Alcohol, Tobacco and Firearms ...

Lawmakers Propose Amendment to Congressional Term Limits

By Stacy Robinson Senator Ted Cruz (R-Texas) and Rep. Ralph Norman (R-S.C.) have introduced joint resolutions in the Senate and House respectively, calling for congressional ...

Los Angeles Fires Push Crews to Limits as Critics Blame Government Policy

By Brad Jones As four massive fires engulf Los Angeles, critics are blaming the government for putting lives, homes, and businesses at risk. Amid it all, ...

Trump Suggests Renaming Gulf of Mexico to ‘Gulf of America’

By Samantha Flom President-elect Donald Trump’s list of proposed changes to the world map just got a little longer. Delivering his first public remarks since Congress ...

Homeland Security Inspector General Confirms Audit of FEMA Over Trump Sign Controversy

By Jack Phillips The Department of Homeland Security’s inspector general this week confirmed it is auditing the Federal Emergency Management Agency (FEMA) over concerns that ...