National Debt of the United States

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, 2025May 13, 2025

World

US Officials Say Deal Struck With China to Address Trade Deficit

by USNN World NewsMay 11, 2025June 4, 2025

Economy

Market Review: Stocks Retreat on Fed Caution and Trade Uncertainty

by USNN World NewsMay 10, 2025May 10, 2025

National News

US Could Hit Debt Limit in August, Bessent Says

by USNN World NewsMay 9, 2025May 9, 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

Market Review: S&P 500 and Dow Achieve Nine-Day Rally

by USNN World NewsMay 3, 2025May 3, 2025

National News

Key Takeaways From the April Jobs Report

by USNN World NewsMay 2, 2025June 5, 2025

NATIONAL NEWS

Government Shutdown Begins: 4 Takeaways

By Lawrence Wilson The federal government remains shut down after the Senate on Oct. 1 again rejected a pair of competing plans that would temporarily ...

White House Confirms Layoffs Coming ‘Very Soon’ Amid Government Shutdown

By Jack Phillips White House press secretary Karoline Leavitt said on Oct. 1 that federal layoffs will occur in the near future amid a government ...

Trump Admin Allows Oil and Gas Permits, Freezes Renewables in Shutdown

By Tom Ozimek During the government shutdown, the Trump administration will continue to process oil and gas drilling permits on a limited basis while putting ...

Social Security, IRS Payment Changes Coming Tuesday: 4 Things to Know

By Jack Phillips Both the IRS and the Social Security Administration (SSA) are ending the issuance of paper checks on Sept. 30 under a change ...

FBI Suspects Michigan Church Shooter Hated People of the Mormon Faith

By Jack Phillips White House press secretary Karoline Leavitt said on Monday that the man accused of killing at least four people and injuring eight ...

US Real Estate Industry Cautiously Optimistic About Fall Market

By Mary Prenon Despite a slight 0.2 percent dip in national home sales in August, real estate professionals nationwide remain cautiously optimistic about the fall ...

Multiple People Shot at Mormon Church in Michigan, Shooter Is Down: Officials

By Jack Phillips Several people have been shot at a Mormon church in Michigan and the suspected shooter has been taken down, authorities said Sunday. The ...

Trump Authorizes Troop Deployment to Portland, Vows ‘Full Force’ Response to Domestic Terrorists

By Tom Ozimek President Donald Trump said he has ordered troops to deploy to Portland, Oregon, in response to escalating clashes outside federal immigration facilities, ...

US Attorney Directs Federal Authorities to Ignore California Mask Law

By Jack Phillips An acting U.S. attorney in California on Friday ordered federal authorities to ignore a new state law that bars law enforcement officers ...

Former FBI Director James Comey Indicted—What to Know

By Joseph Lord On Sept. 25, grand jurors returned an indictment on two counts against former FBI Director James Comey, accusing him of making a ...

Artemis II Crew Says Success Means Being ‘Forgotten’

By T.J. Muscaro HOUSTON—Artemis II Commander Reid Wiseman told reporters that he hoped his upcoming historic mission around the moon would be ultimately “forgotten” due ...

White House Directs Agencies to Plan for Layoffs If Government Shuts Down

By Melanie Sun The White House budget office has sent a memo directing federal agencies to consider preparing “Reduction in Force” (RIF) notices for a ...