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Tag: Employment

Employment is a relationship between two parties, usually based on a contract where work is paid for, where one party, which may be a corporation, for profit, not-for-profit organization, co-operative or other entity is the employer and the other is the employee.

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.”
Posted inEconomy

Panasonic Announces 10,000 Layoffs Worldwide

USNN World Newsby USNN World NewsMay 9, 2025May 9, 2025
US Tariff Revenues Reach Record $15 Billion in April: Treasury
Posted inNational News

US Tariff Revenues Reach Record $15 Billion in April: Treasury

USNN World Newsby USNN World NewsApril 30, 2025August 20, 2025
US Job Openings Slide to 6-Month Low, Layoffs Fall
Posted inEconomy

US Job Openings Slide to 6-Month Low, Layoffs Fall

USNN World Newsby USNN World NewsApril 29, 2025April 29, 2025
IBM Announces $150 Billion US Investment to Boost Quantum Computing and Manufacturing
Posted inBusiness

IBM Announces $150 Billion US Investment to Boost Quantum Computing and Manufacturing

USNN World Newsby USNN World NewsApril 28, 2025April 28, 2025
US Manufacturing Shows Signs of Improvement as Factory Output, Orders Tick Higher
Posted inEconomy

US Manufacturing Shows Signs of Improvement as Factory Output, Orders Tick Higher

USNN World Newsby USNN World NewsApril 23, 2025April 23, 2025
Swiss Pharma Company Announces $50 Billion US Investment, 12,000 New Jobs
Posted inEconomy

Swiss Pharma Company Announces $50 Billion US Investment, 12,000 New Jobs

USNN World Newsby USNN World NewsApril 22, 2025May 11, 2025
Home Builder Confidence Improves Slightly but Remains in Negative Territory: NAHB Report
Posted inEconomy

Home Builder Confidence Improves Slightly but Remains in Negative Territory: NAHB Report

USNN World Newsby USNN World NewsApril 17, 2025October 6, 2025
US Economy Adds Hotter-Than-Expected 228,000 New Jobs in March
Posted inEconomy

US Economy Adds Hotter-Than-Expected 228,000 New Jobs in March

USNN World Newsby USNN World NewsApril 13, 2025April 13, 2025
Leading Employment Indicator Suggests Job Growth in Near Term
Posted inEconomy

Leading Employment Indicator Suggests Job Growth in Near Term

USNN World Newsby USNN World NewsApril 9, 2025June 26, 2025
Private Employers Added 155,000 Jobs in March, ADP Report Shows
Posted inEconomy

Private Employers Added 155,000 Jobs in March, ADP Report Shows

USNN World Newsby USNN World NewsApril 2, 2025April 2, 2025
UAE Commits to $1.4 Trillion Investment in US Economy
Posted inEconomy

UAE Commits to $1.4 Trillion Investment in US Economy

USNN World Newsby USNN World NewsMarch 22, 2025March 22, 2025
White House Focused on ‘Real Economy’ Not Market Volatility: Bessent
Posted inEconomy

White House Focused on ‘Real Economy’ Not Market Volatility: Bessent

USNN World Newsby USNN World NewsMarch 13, 2025July 3, 2025

Posts pagination

Newer posts 1 … 3 4 5 6 7 … 16 Older posts

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