Anyone else noticing aggressive cost-cutting measures?

I’m in one of the regional offices and lately, it’s been death by a thousand cuts. They’ve frozen all non-essential travel, we’re being told to trim our budgets by 15% for the remainder of the year, and I’ve seen two roles in my department go unfilled after people left. It’s the 'do more with less' mantra taken to the extreme. Management keeps saying we’re growing, but the internal atmosphere feels like they’re bracing for a recession or prepping for a massive headcount reduction. It’s starting to affect morale because we’re all terrified that we’re next on the chopping block. I’m quietly polishing the resume just in case because if I hear 'synergy' one more time, I’m going to lose it. Has anyone heard if this is just a regional thing or is corporate cutting across the board?