This is real. I work at one of the big tech and have access to their internal head count breakdowns. The overall headcount is mostly stagnant but the US headcount is decreasing with a corresponding increase in Europe and mostly India based HC.

Same at my company. No new hiring in the US.

The company I just left is firing as many people in the US as possible and rehiring primarily in India, with Dublin and Toronto by exception.

FedRAMP requires US persons on US soil, and so as far as Americans are concerned, only senior management and people working on the federal business are safe.