Unexplained hiring freeze and travel bans?

Has anyone else noticed that we’ve suddenly stopped backfilling roles that were vacated months ago? My department had two people leave in July, and HR told us they aren’t even looking for replacements. On top of that, all non-essential travel is off the table, even for client-facing roles. It’s a bit suspicious. I’ve been through a few re-orgs in my career and these are usually the classic precursor signs. Management keeps doing these 'town hall' meetings where they talk about 'agility' and 'lean operations' but they never actually address the state of our current staff. I’m honestly just tired of the ambiguity. If they are planning something, they should just rip the band-aid off so we can all move on. Is anyone seeing this across other business units, or is it just my specific vertical?