Anyone else seeing a shift in internal project focus?

Lately, it feels like a lot of the projects I'm involved in, or hearing about from other teams, are suddenly being 're-scoped' or 'reprioritized.' It's not a formal announcement, but there's a definite shift away from growth initiatives towards what feels like cost containment or 'efficiency gains.' People are being pulled from some projects to support others that are deemed more critical, but the overall headcount seems to be stable. It's making planning really difficult, and morale is starting to dip because you never know when your pet project might get shelved. Just wondering if anyone else is experiencing this kind of internal shuffling and if it feels like a precursor to something bigger.