Howmet's future: Am I overthinking the budget cuts?

Okay, I need to vent a little because this is starting to get to me. Been working at Howmet for a while, and the last couple of quarters, things feel like they're tightening up. My department's budget got a pretty significant haircut, and certain 'nice-to-have' projects are basically on ice. We're being told it's about 'streamlining operations' and 'optimizing resources,' which sounds like corporate speak for 'prepare for less.' No official layoff announcements, but the pressure to do more with less is palpable. People are definitely watching their backs more, and there's a quiet anxiety that wasn't there before. Is this just how things are in the aerospace sector right now, or is Howmet specifically headed for a rough patch? I'm trying to stay positive and focus on my work, but the constant 'efficiency' talk is starting to wear thin. Anyone else in a similar boat or seeing similar signs?