AbbVie - My team's workload has doubled, yet no new hires?

Seriously, what's going on? My team has lost two people in the last quarter due to 'voluntary separation' (you know what that means). We were already stretched thin, and now we're drowning. My manager keeps saying 'we're looking into headcount,' but it's been weeks. The projects aren't getting pushed back, deadlines are still firm, and the expectation is that we just 'do more with less.' It's exhausting and frankly, feels unsustainable. It's not like we're in a dying department; we're critical to several key product lines. I'm starting to wonder if this is a deliberate strategy to see how much people can take before they break, or if they're just hoping we'll all quit so they don't have to pay severance. The pressure is immense, and morale is tanking faster than our stock price (kidding... mostly). Anyone else's team in a similar boat?