Is the 'high performance' culture actually just a cover for quiet firings?

Has anyone else noticed how the tone in leadership meetings has shifted lately? It feels like every 'strategy pivot' is just a way to churn people out without officially calling it a layoff. I’ve been here for three years and I’ve never seen the internal 'high performance' mandate pushed this aggressively. Suddenly, everyone is being put on PIPs for things that were considered standard practice six months ago. It feels like they’re trying to squeeze out the mid-level engineers to save on headcount costs without paying severance. My manager is suddenly impossible to please, even when I’m hitting all my deliverables. Is it just my org, or is the writing on the wall company-wide? Starting to feel like the only way to survive here is to be a total sycophant, but even then, who knows? Thinking about jumping ship before the inevitable, but the market feels rough right now. Curious if others are seeing the same 'soft' headcount reduction tactics.