State Street - What's the deal with the 'performance improvement' push?

Lately, it feels like everyone is getting a 'Performance Improvement Plan' (PIP) discussion, even people who have been solid performers for years. My team lead mentioned something about 'aligning talent with strategic priorities' during a recent meeting, which sounds like corporate speak for something else entirely. It's making a lot of us nervous. Are they trying to clear house indirectly? It's hard to get a straight answer. People are stressed, morale is low, and honestly, it feels like a way to push people out without officially announcing layoffs. Has anyone else experienced this sudden focus on performance metrics or PIPs, especially if you weren't expecting it? Wondering if this is a company-wide initiative or just something happening in certain pockets. Any insights would be helpful.