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It is definitely noticeable. When the veterans start polishing their resumes, it is usually a sign that they have seen something the rest of us haven't. The mood in the halls has shifted from cautious optimism to quiet survival mode. I’ve spoken with a few colleagues who were pillars of their departments, and their reasons for leaving are all eerily similar—lack of transparency from the top and a feeling that the current trajectory is unsustainable. If management is jumping, the smart money is on updating your own LinkedIn profile before the floodgates fully open.
You are not imagining things. I have seen the same churn in my department, and frankly, it is exhausting to keep training new hires who leave within months. The institutional knowledge walking out the door is staggering. People aren't just leaving for better pay anymore; they are leaving because the culture has become unrecognizable. If you are starting to get that pit in your stomach, trust your gut. It is better to be proactive and see what else is out there than to be left holding the bag when things finally hit a breaking point.