Layoff rumors picking up steam - are they real?

Okay, I've been hearing more than just whispers now. A few reliable sources within Investment Banking and Global Capital Markets are mentioning that layoffs are not just a possibility but are actively being planned for Q1. They're citing the slowdown in M&A and IPOs as the primary driver. Some desks are apparently being looked at more closely than others. I haven't seen any official communication, but the consistency of these off-the-record conversations is making me seriously nervous. Has anyone else heard concrete details or specific numbers being thrown around? Trying to gauge how widespread this might be before it hits the news.