Project Portfolio Review - Seeing a lot of projects shelved?

Lately, it feels like almost every other week a project I'm involved with or hear about is getting put on the back burner, or worse, completely shelved. It's not just one or two, it's across different departments and therapeutic areas. They're talking about 'strategic realignment' and 'prioritization,' but it feels like more than just a normal portfolio review. Budgets are being scrutinized intensely, and approvals for even minor expansions or new initiatives are taking forever, if they come at all. Anyone else seeing this pattern? It's making it hard to plan long-term, and honestly, the morale impact is starting to show. Feels like we're being asked to do more with less, and the 'why' isn't always clear. Just feels like a general tightening, but without any official word on what's actually happening. Curious to hear if others are experiencing this widespread project slowdown.