I don't want to raise panic and I don't have any information about layoffs, but considering my experience here, I just want to give advice to others to never believe if the boss tells them that there will be no cuts, because the cuts at HON never stop!
It is always wiser not to stop looking for new opportunities than to rely on reassuring promises that everything will be fine, because it wouldn't be the first time that they promise no cuts, and the cuts follow soon after.