Anyone else in Ecolab seeing budget cuts/hiring freezes?

So, I've been noticing some strange things happening around Ecolab lately. My team's budget for Q4 and next year seems significantly tighter than usual. We've had a few requisitions for new roles put on indefinite hold, and even some internal projects are being scrutinized much more heavily. It feels like a definite freeze or at least a major slowdown in hiring and investment. It's not just my department either; I've heard similar stories from colleagues in other parts of the company. This isn't the usual 'belt-tightening' we've seen before. Makes me wonder if something bigger is on the horizon, maybe not necessarily mass layoffs, but a significant restructuring or cost-saving initiative that could impact jobs. Anyone else experiencing this? What's the sentiment in your area?