How to reduce employee anxiety during change in project scope or budget or management ?

Shadav -

This calls on the high EQ required of an effective PM. Active listening, soliciting feedback, being transparent about the change impacts and providing a safe space for folks to express their concerns are all tactics which may help.

Kiron

Be highly transparent, be sure thant your team members understood your communication, the only way to have sure is obtain Feedback. Stay always calm no matter the situation, evolve you team members in the decisions, ask them for contributions, make feel them that their opinion matters. Make some team social gathers to reduce anxiety. Finally enjoy and have fun during the process because you are doing a work that you love.