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Healthcare

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Economy

Market Review: Stocks Retreat on Fed Caution and Trade Uncertainty

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Healthcare

FDA Approves 3 Natural Color Additives Amid Push to Remove Artificial Food Coloring

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Immigration

Judge Warns Trump’s Order May Violate Previous Ruling on Sanctuary Cities

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

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NATIONAL NEWS

Only 28 Percent of Americans Approve of Biden’s Handling of Inflation: Poll

By Hannah Ng Less than 30 percent of American voters are content with President Joe Biden’s handling of inflation, a new poll shows. According to the ABCNews/ ...

Obama Approved Accusing Russia of DNC Hack Before FBI Received DNC Server Images

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10 Underreported Revelations From Trial of Former Clinton Lawyer

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GOP House Lawmakers Criticize Biden Admin for ‘Unlawfully Expanding’ Obamacare

By Frank Fang Two House Republicans have criticized the Biden administration for what they view as an unlawful expansion of Obamacare subsidies. “The Internal Revenue Service ...

More Than 8,000 Double-Registered Voters Found on New Jersey Rolls

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Biden Invokes Defense Production Act to Push Green Agenda

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Biden Accelerating Obama’s Push for a ‘Woke’ Military, Undermining Combat Readiness, Analysts Say

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Elon Musk Says ‘No One in the Media Cares’ About Exposing Jeffrey Epstein’s Alleged Clients

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FBI Has ‘Secure’ Workspace in Law Firm That Represents Democrats: Document

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DeSantis Signs Nearly $110 Billion ‘Freedom First Budget’

By Jannis Falkenstern PUNTA GORDA, Fla.–Gov Ron DeSantis on June 2 signed what he called the “Freedom First” budget totaling almost $110 billion for fiscal year 2022-2023, ...