USNN World News

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

Economy

US Homeownership Rate Falls to Lowest Level in 5 Years

by USNN World NewsApril 29, 2025December 11, 2025

U.S. stocks drifted to a mixed, quiet finish Monday ahead of a week with several potential flashpoints that could bring more sharp swings for financial markets. Later this week will come earnings reports from some of Wall Street’s most influential companies, including Amazon, Apple, Meta Platforms and Microsoft. Reports will also show how the U.S. economy performed during the first three months of the year and how many workers employers hired during April. On Monday: The S&P 500 rose 3.54 points, or 0.1 percent, to 5,528.75. The Dow Jones Industrial Average rose 114.09 points, or 0.3 percent, to 40,227.59. The Nasdaq composite fell 16.81 points, or 0.1 percent, to 17,366.13. The Russell 2000 index of smaller companies rose 7.93 points, or 0.4 percent, to 1,965.55. For the year: The S&P 500 is down 352.88 points, or 6 percent. The Dow is down 2,316.63 points, or 5.4 percent. The Nasdaq is down 1,944.66, or 10 percent. The Russell 2000 is down 264.61 points, or 11.9 percent. The views and opinions expressed are those of the authors. They are meant for general informational purposes only and should not be construed or interpreted as a recommendation or solicitation. The Epoch Times does not provide investment, tax, legal, financial planning, estate planning, or any other personal finance advice. The Epoch Times holds no liability for the accuracy or timeliness of the information provided.

Economy

How Major US Stock Indexes Fared April 28

by USNN World NewsApril 28, 2025April 28, 2025

Economy

New Oil Drilling Permits in California Drop 97 Percent in 5 Years: What to Know

by USNN World NewsApril 27, 2025April 27, 2025

NATIONAL NEWS

Lara Trump reacts to liberal ‘View’ hosts defending Hunter Biden: The hypocrisy is ‘glaring’

By Joshua Nelson | Fox News Trump 2020 campaign adviser Lara Trump appeared on “Fox & Friends” Friday to point out the hypocrisy of “The View” hosts defending Hunter Biden while ...

McCain, Behar explode over Bloomberg, Trump’s 2016 win: ‘He is president, move on!’

By Sam Dorman | Fox News “The View” co-hosts Joy Behar and Meghan McCain got into another spat over President Trump on Friday, this time while discussing whether he was more electable than former ...

Onetime media darling Avenatti faces years in prison after conviction in Nike shakedown scheme

By Brian Flood | Fox News Brian Stelter and Joy Behar thought he could run for president in 2020. Now he’s going to jail. Former liberal media darling ...

Republicans introduce bill to pull funds from states that give driver’s licenses to illegal immigrants

By Adam Shaw | Fox News Republicans in the House and the Senate are introducing legislation that would block federal funds from states that allow illegal immigrants to obtain ...

Trump, Cuomo fail to reach agreement to resolve ‘sanctuary’ state sanctions

By Gregg Re | Fox News New York Democratic Gov. Andrew Cuomo visited the White House on Thursday in the hope he could persuade President Trump to reverse a recent decision to ...

Vulnerable House Dems sound alarm about potential Sanders nomination: ‘It’s bad’

By Marisa Schultz, Chad Pergram | Fox News The strength of Sen. Bernie Sanders’ campaign is causing palpable panic among Democrats from battleground states and swing districts who worry they’ll lose ...

Trump: Bloomberg’s ‘stop and frisk’ policy sparked a ‘revolution’ in NYC, Giuliani was a ‘far better’ mayor

By Julia Musto | Fox News Former New York City Mayor and 2020 Democratic presidential candidate Michael Bloomberg’s controversial “stop and frisk” policy caused a “revolution” in New York City, President Trump said Thursday. In a wide-ranging interview with Geraldo ...

Democracy 2020 Digest: Bernie panic spreads inside the party

By Paul Steinhauser | Fox News With populist Sen. Bernie Sanders of Vermont now considered the front-runner in the race for the Democratic nomination, concern and resistance is growing among mainstream ...

Democracy 2020 Digest: Struggling Warren pulls back from South Carolina, puts her chips on Nevada

By Paul Steinhauser, Alex Pappas | Fox News Sen. Elizabeth Warren’s presidential campaign appears to be concentrating its firepower on Nevada rather than South Carolina – with those two states on deck in the ...

CNN reporter accused of ‘dismissing’ Bloomberg’s stop-and-frisk remarks previously worked at Bloomberg Television

By Joseph A. Wulfsohn | Fox News A CNN reporter who claims to be “unraveling conflicts of interests” may be finding herself in a conflict of interest of her ...

Trey Gowdy: Dems’ demands for Barr resignation ‘about the dumbest damn thing I’ve ever heard’

By Yael Halon | Fox News Former House Oversight Committee Chairman Trey Gowdy responded Thursday to the outrage by many Democrats over President Trump’s defense of Republican political consultant Roger Stone ...

Jesse Watters on Joe Biden: He’s pivoting to a ‘race-based campaign’ in South Carolina

By Victor Garcia | Fox News Juan Williams and Jesse Watters weighed in on former Vice President Joe Biden’s dismal performance in New Hampshire’s primary, with Watters calling the candidate a “hot ...