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

Key Battle on Election Betting Market Heads to Appeals Court

By John Haughey A legal battle over the future of a website’s election prediction market is set to continue on Sept. 19, when an appeals ...

House Fails to Pass GOP Stopgap Funding Plan

By Joseph Lord, Stacy Robinson and Jackson Richman WASHINGTON—The House on Sept. 18 failed to pass a temporary spending fix that would have forestalled a ...

Teamsters Union Makes No Endorsement for President

By Jacob Burg The International Brotherhood of Teamsters said on Sept. 18 that it will not endorse a presidential candidate, the first time it has ...

Arizona Officials Find Nearly 100,000 Voters Didn’t Provide Proof of Citizenship

By Zachary Stieber Officials in Arizona have discovered a flaw that allowed some 97,000 residents to vote in state and local races despite not providing ...

Americans Can Now Renew Their Passports Online: Everything You Need to Know

By Jack Phillips The U.S. Department of State on Wednesday announced that Americans can now renew their passports online, bypassing a mail-in method that could ...

Suspicious Packages Sent to Election Officials Across United States

By Caden Pearson Suspicious packages containing white powder have been sent to election officials in more than a dozen states since Sept. 16, prompting investigations ...

Top Election Officials Tell Congress Voter Roll Accuracy Is Improving but Other Issues Remain

By Steven Kovac Fifty-five days before the Nov. 5 general election, six secretaries of state from around the country told a congressional committee that they ...

Sean ‘Diddy’ Combs Arrested in New York

By Caden Pearson Sean “Diddy” Combs was arrested by federal agents in Manhattan on Monday night, prosecutors said. Prosecutors did not immediately announce details of the ...

Trump Vows to End Taxes on Overtime. Here’s What It Means for the Economy

By Andrew Moran Former President Donald Trump pledged during a campaign rally on Sept. 12 to eliminate taxes on overtime pay for workers who clock ...

Pennsylvania Supreme Court Rules to Disqualify Undated, Misdated Mail-In Ballots

By Tom Ozimek The Pennsylvania Supreme Court issued a decision on Sept. 13 that upholds a requirement in the key battleground state that voters must ...

Early Voting, Mail-in Voting, and Drop Boxes: The Rules in Each Battleground State

By Nathan Worcester Many Americans yearn for a simple, one-day election. For now, though, national elections are sprawling, weeks-long “election seasons” that differ significantly from ...

Trump Assassination Suspect Identified as Ryan Wesley Routh

By Jack Phillips, Joseph Lord and Melanie Sun The suspected would-be assassin of former President Donald Trump has been identified by officials as Ryan Wesley ...