Comment by xp84

It sounds to me like your team is not super important (right now?) to the higher-ups in the company. Obviously I don't know the details, but they're very intentionally attritioning (? Attriting?) the team by any reasonable definition.

Without any other detail, from my experience (10 years doing Eng Manager/Senior Eng Manager roles) I'd advise you to start interviewing. Not necessarily because you're in jeopardy, you'd know that better than me anyway. But think of what you want out of your job: One thing should be professional growth -- going from a new EM to a great EM and being set up for future promotions. You won't get that here without a major mindshift from your boss (and probably up the reporting chain from them too).

Interview and when asked why you're leaving when you just became an EM, say "I love my new role and the team, but XYZ Co seems to be deprioritizing or phasing out the ABC team and I find myself without the resources we need to be successful."