Is the recent push for 'efficiency' a precursor to headcount reduction?

Is it just me, or has the language coming from leadership shifted significantly over the last month? We keep hearing about 'optimizing our service delivery models' and 'aligning talent with high-growth sectors.' In my experience, those phrases are usually management-speak for 'we are sharpening the knives.' I’ve been looking at the internal metrics for our practice group, and despite the external noise about AI potentially helping us, the workload remains just as manual as it was last year. If they are actually looking at cutting costs, I suspect they will target the mid-level consultants who haven't been hitting their utilization targets for two consecutive quarters. Has anyone heard anything specific from their directors about the Q3 headcount outlook? I don't want to get caught off guard, especially with the job market feeling as stagnant as it currently is.