Hiring freeze disguised as 'strategic realignment'?

Has anyone else noticed that open requisitions are getting stalled or suddenly 'under review' for what they're calling a 'strategic realignment' of talent? My team has an open role we've been trying to fill for months, and now it's on hold indefinitely. HR is giving vague answers about ensuring alignment with future business needs. Meanwhile, I'm seeing a lot more internal people expressing interest in transferring out of their current roles, almost like they're proactively trying to find a new position before something happens. It feels like a soft hiring freeze, but they don't want to admit it. Anyone else experiencing this or have any insights into what this 'realignment' might entail?