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Pretty much a big red flag. Only the most senior rôles will remain
Start looking for a new role. It’s just a matter of time before your group is affected. It’s possible that the budget for your role was already allocated and secured through the FY, so you are unaffected today but it will suck a lot if/when you are let go in the middle of the holiday season , so use this time wisely to scout for your next opportunity or network internally if you want to stay on in your current company and pivot to a different role.
Coach
Impact or layoffs are usually in layers. If it didn't impact you yet. You will surely be the next in line. So start looking for a job elsewhere.