PIP stands for "Performance Improvement Plan". PIPs are a relatively common tool to give employees advance notice about getting fired, but Amazon has a notably brutal setup that uses stack ranking. Described here: https://www.reddit.com/r/csMajors/comments/kh9ztt/can_someon...
posting just as an acecdote, but as a AWS HM PIP is only used for really really obvious under performers. Honestly, one regret is not putting under performers on a plan fast enough because it is a big drag on team morale when someone isn't pulling their weight.