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

‘Potential Misconduct’ Complaint Filed Against Judge Overseeing Trump Trial

By Jack Phillips Rep. Elise Stefanik (R-N.Y.) filed a complaint against the judge overseeing former President Donald Trump’s criminal trial in New York, alleging that ...

Lawsuit Seeks End to ‘Lawless’ Noncitizen Voting in Pennsylvania

By Naveen Athrappully The conservative advocacy group America First Legal (AFL) filed a complaint with the Pennsylvania Department of State, seeking to end a directive ...

Federal Judge Denies Jack Smith’s Request for Gag Order Against Trump

By Jack Phillips U.S. District Judge Aileen Cannon on Tuesday denied a gag order request submitted by special counsel Jack Smith in former President Donald ...

United Airlines Plane Catches Fire at Chicago’s O’Hare Airport

By Tom Ozimek An engine caught fire on a United Airlines flight at Chicago’s O’Hare International Airport on May 27, causing the pilots to abort ...

Still Flying High, WWII Plane That Led D-Day Operation Heads to Normandy

By Allan Stein OXFORD, Conn.—High above the muddy Hudson River, the D-Day Squadron had flown nearly 100 miles in tight formation to reach the towering ...

Robert F. Kennedy Jr. Loses Libertarian Party Nomination

By Naveen Athrappully Independent presidential candidate Robert F. Kennedy Jr. was swiftly eliminated from the Libertarian Party’s presidential nominee race in the first round, thus ...

Alan Dershowitz Reveals ‘Major’ Issue in Trump Criminal Trial

By Jack Phillips Retired Harvard Law professor Alan Dershowitz said last week that he believes the prosecutor who brought the New York criminal case against ...

Arizona Senate Passes Ballot Measure Allowing Arrests of Illegal Immigrants

By Aldgra Fredly The Arizona Senate approved on Wednesday a proposed ballot measure that would make it a state crime to enter Arizona’s southern border ...

Trump’s Bronx Rally Sparked Voter Registration Amid Rap Music

By Janice Hisle This week’s South Bronx campaign stop for former President Donald Trump stands out among his dozens of rallies this election cycle. Besides ...

Trump, Biden Look to California for Major Campaign Cash Boosts

By Samantha Flom With the presidential contest heating up, the presumptive Republican and Democrat nominees are both looking to the Golden State for a boost ...

North Carolina Legislature Considers Bill to Compel Sheriffs to Cooperate With ICE

By Aaron Gifford A North Carolina bill that pushes back on sanctuary counties shielding illegal immigrants from federal authorities is making its way through the ...

In Blow to China, Argentina’s Milei Looking to US for Defense Cooperation

By Autumn Spredemann Over the past decade China’s security footprint in Argentina has grown considerably, but analysts say recent indicators demonstrate President Javier Milei may be ...