Space firms plot new European satellite venture to take on Starlink as job cuts loom By Reuters

Project Bromo Initiative: Airbus, Thales, and Leonardo are in discussions to establish a new joint space company named "Project Bromo" to enhance Europe's competitiveness against Elon Musk's Starlink, aiming for a structure similar to missile maker MBDA.

Job Cuts in the Industry: Concurrently, thousands of job cuts are anticipated within Airbus and Thales' space divisions, with Airbus planning to reduce 2,500 positions and Thales discussing cuts of 1,300 roles, as the industry faces challenges from low-cost satellite competition.