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.
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.
Is that true for everyone involved in the project? One of my friends works on a FedRamp project from Pune. Most engg and PMs are in Pune. Maybe the top mgmt and VPs need to be US-based?
You can have PMs or software engineers writing code from anywhere you like, but your engineers in Pune can’t go poking around your FedRAMP High prod environment.