My division's recent 'reorg' feels like a prelude to cuts.

Just went through what management called a 'strategic realignment' in my division at 3M. On the surface, it's about 'optimizing synergies' and 'enhancing operational agility.' But let's be real, a lot of roles are being consolidated, and a few long-term folks suddenly found themselves 'redundant' due to 'skill overlap.' We're all seeing the same news about economic headwinds and other companies making cuts. It's hard not to connect the dots. They're not calling them layoffs, but the end result feels pretty similar for those affected. Morale is definitely in the tank. Feels like we're being prepped for something bigger down the line. Has anyone else's area seen similar 'reorgs' that felt like a soft layoff?