Anyone else seeing increased scrutiny on project budgets?

Lately, it feels like every single expense, no matter how small, is getting a microscope. My manager is under a lot of pressure to justify every line item, and it's trickling down. We had a few project updates where resources were reallocated, and it wasn't for growth. Combined with the Aduhelm news, it's making me nervous. Feels like the company is tightening its belt in preparation for something, and historically, that means headcount reduction. Just wondering if this is a company-wide thing or if it's isolated to my department. Trying to stay positive, but the signs are hard to ignore.