Internal Cloud Initiative - What's the real impact?

So, the news is out about BoA building its own cloud and saving a ton of money. On one hand, that's impressive and good for the company's bottom line. But from where I'm sitting, I'm wondering what that actually means for us on the ground. Are certain teams being consolidated or phased out because of this? Are we seeing a shift in project focus that might lead to fewer roles in the long run? I'm in [another department] and we've seen some changes, but I'm trying to connect the dots. If we're bringing more in-house, does that mean less need for external vendors, or worse, some of our own internal IT functions? Curious to hear from others who might have more insight into how this massive internal project is affecting headcount and roles.