Morale seems to be tanking post-acquisition, anyone else feel it?

It just feels... different since the Microsoft deal closed. I know there were those initial layoffs, and that's always rough, but beyond that, there's a weird energy in the air. People seem less engaged, more hesitant. Projects are getting delayed, and there's a general sense of 'waiting for the other shoe to drop.' I've been hearing about budget cuts in unexpected areas, and project cancellations that seemed to come out of nowhere. It's hard to pinpoint exactly what's going on, but it feels like a significant shift from how things used to be. Are others experiencing this? Is it just the usual post-acquisition jitters, or is there something more systemic happening? Wondering if this is the new normal or if things might stabilize.