Anyone else noticing the travel budget freeze?

Is it just my department, or is everyone seeing a complete lockdown on T&E? My manager basically told me last week that any non-essential travel or off-site meetings are getting immediate pushback from finance. It feels like they are tightening the screws to make the Q3 numbers look better before the end of the fiscal year. I’ve been through this dance before, and it usually precedes a round of 'efficiency initiatives' or a reorg. People are getting nervous because the usual 'we are investing in growth' language has completely disappeared from the town halls lately. Just wondering if this is localized or if corporate is bracing for something larger. I’m starting to update my resume just in case, because the silence from leadership is louder than any memo they could send out.