Anyone else getting weird vibes from the recent leadership town hall?

Is it just me, or did the tone at the last all-hands feel noticeably more guarded than usual? I’ve been with Ingka for over five years, and usually, management is pretty transparent about the long-term vision. This time, however, the focus on 'operational efficiency' and 'realigning resources' felt like corporate speak for belt-tightening. They kept talking about the economic headwinds in Europe and the pressure to keep prices low, but they completely sidestepped questions about headcount. I’ve noticed a few project freezes in my department, and the hiring freeze for backfill positions seems to be expanding across other teams too. Has anyone heard anything concrete about restructuring, or are we just reading too much into standard quarterly jitters? My manager keeps telling us to stay focused on the retail transformation goals, but the atmosphere feels off. I’m considering updating my resume just in case, but I don’t want to panic if this is just standard business cycle pressure.