Should I stay with a company in the face of potential future layoffs because of a hiring freeze or start a job search?

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I've been with a company as a mid level back end engineer for almost two years, and they've just announced a hiring freeze. I really enjoy the culture, the people, but have issues with the overall leadership and some management styles and communications. Is it better for me to start looking for other job opportunities now, even though it might not be as good of a work environment? Should I stick it out and hope the financial woes go away? What are the pros/cons of those choices?