Did you have your 1-2-1, tazmo?
I have expressed reservations about having less variety in my job since a reorg, and frankly, it's made no difference. I'm currently approaching it from the angle of, what do I need to do to get a promotion, and what can I include in my development plan to fill gaps that would currently get me to that point, and what projects can I work on that will give me relevant experience? Think also about why you want a promotion, and how that will benefit your employer.
Don't focus on things like a payrise (that's not of such interest to the employer,) but more on how you are capable of doing something more challenging, and how that will make you more productive. I'm not saying pay isn't relevant, because clearly it is, but management tend not to dole out payrises just because you want one, but because it can be justified in the level of work being done.
Be very careful with gossip - it's natural to gossip in unsettled times, particularly if you're not getting much information about what's happening through official channels (i.e. management and/or HR.) But you have to remember that it is gossip, it may not all be based on reality, Chinese whispers may have caused misunderstandings and mishearings, people might have added in their own conclusions which could be false - and if you spread gossip, it really won't do your cause any good at any level. Nearly everyone does it, but you need to be subtle about it, so you don't get a reputation for being the one who gossips - be the one who people talk to and pass on knowledge to, not the one who spreads stories. It's a subtle but important different in how you're perceived, which could make a difference in whether you'd be likely to get promotion or not. However, if there is a lot of gossip going round, it could be worth mentioning that to management, as part of a suggestion that they could run an information session of some sort, to dispel false rumours.