Similar thing happened at my first job out of college. It was a year into COVID and we'd been WFH since the spring before this annual June meeting. They had just gotten done announcing that our productivity had exceeded targets, when they added two more announcements:

1. WFH was ending, and we'd all have to go back to an office that didn't have enough desks for everyone to be there all at once but that was okay because we could all just coordinate amongst ourselves as to who gets to sit where and when and when we had in person all-hands meetings some people could just sit on the floor and work.

2. Due to a lawsuit filed against an entirely different OU we shouldn't expect much in the way of bonuses this year.

We saw the stress the company was under between the lawsuit and the move, so over the next couple months we helped by cutting about a million dollars a year from their annual salary budget.