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

Trump proudly displays ‘Acquitted’ headlines, mere feet from Pelosi at prayer breakfast

By Brooke Singman | Fox News President Trump proudly displayed two newspapers with blaring “Acquitted” headlines Thursday morning, waving them before a National Prayer Breakfast audience ...

Sanders, Buttigieg Neck and Neck in Iowa Caucus With Nearly All Results In

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Space Force vice commander: Service members won’t be called ‘spacemen’

By Louis Casiano | Fox News Members of the newly created Space Force still don’t have a title, officials said Wednesday, while also saying they won’t be referred to as ...

Trump jabs at Dems, Mitt Romney with ‘Love Hurts,’ ‘Democrat secret asset’ videos

By Joseph A. Wulfsohn | Fox News President Trump targeted Sen. Mitt Romney, R-Utah., and congressional Democrats in a string of videos posted to his Twitter account Wednesday — the day ...

Rep. Doug Collins: Trump will be ‘acquitted for life’, impeachment will go down as ‘sad time’ in history

By Yael Halon | Fox News Rep. Doug Collins, R-Ga., one of numerous House Republicans on President Trump’s legal defense team, told the “Brian Kilmeade Show” Wednesday that the Democrats’ impeachment efforts will go down ...

Trump honors one of the last surviving Tuskegee Airmen during State of the Union address

By Talia Kaplan | Fox News During President Trump’s State of the Union address to Congress on Tuesday night, he honored one of the last surviving Tuskegee Airmen, who stood with his ...

Trump’s ‘Great American Comeback’ helping low-income workers prosper, president says

By Brittany De Lea FOXBusiness A ‘blue-collar boom’ has resulted in faster wage growth and millions of new entrants into the U.S. labor force. As President Trump discussed the U.S. ...

Rush Limbaugh receives Presidential Medal of Freedom at Trump’s State of the Union address

By Joseph A. Wulfsohn | Fox News A visibly stunned Rush Limbaugh was awarded the Presidential Medal of Freedom at President Trump’s State of the Union address Tuesday night, in an ...

Trump takes on ‘radical left’ in defiant and dramatic State of the Union address; Pelosi rips up speech

By Gregg Re | Fox News President Trump went on the offensive against socialism and left-wing policies during his third State of the Union address to Congress Tuesday ...

President Donald Trump delivers his State of the Union Adress on Tuesday night to both chambers of Congress in Washington.

By Jack Phillips The event started at 9 p.m. ET, where the president touted the U.S. economic recovery in a key moment ahead of the 2020 ...

Fox News outdraws liberal networks CNN, MSNBC during Iowa caucuses

By Brian Flood | Fox News Fox News averaged 4.3 million viewers during primetime on Monday night to dominate cable news during coverage of the bungled Iowa caucuses. Fox’s coverage, co-anchored ...

Rush Limbaugh to attend State of the Union address, receive Presidential Medal of Freedom soon, source says

By Joseph A. Wulfsohn | Fox News Talk radio icon Rush Limbaugh is expected to attend President Trump’s State of the Union address Tuesday night, where the president ...