SAP Layoffs - What's the real story behind the numbers?

Saw the news about SAP cutting another chunk of jobs, around 3000 this time, supposedly for 'restructuring' and focusing on cloud. It's getting hard to keep track. Feels like every few months there's another wave. I've been with SAP for a while now, and honestly, the vibe has been weird for ages. Lots of talk about 'efficiency' and 'synergies,' but it always seems to translate to fewer people doing more work, or worse, people disappearing. My team is okay for now, but you can feel the tension. People are hesitant to take vacations, always looking over their shoulder. We're hearing whispers about specific departments being hit harder than others, particularly those tied to older on-premise solutions. Is anyone else in a similar boat? How are you coping? Are you actively looking, or just waiting to see what happens? It's tough to plan for the future when your current role feels so precarious. What's the strategy for those of us still here? Just keep your head down and hope for the best?