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PIPs are rarely something I see people come back from, not that it’s impossible, just be prepared. It can depend a lot on what it includes. If they are reasonable asks and something you can do, that is more hopeful. But regardless, updating the resume and starting to look around isn’t a bad idea.
You are probably right to be concerned. Many companies (not all, but many) use PIPs as a way to cover themselves for when they let you go. I really hope that's not the case, but I would start job hunting so you have a backup.
I'd be concerned, yes. But why don't you talk to your manager about this?
Managers use PIP's to paper their trail when they fire you ultimately. Never sign one without saying you'll seek legal counsel. If you did, use the time to find another opportunity. I was in a situation where the managers outright lied about my performance just to have someone to scapegoat. I wished I had known more about the process. I consulted the internet and universally people say its the precursor to doom. As you note, your performance was normal. White collar work is so hard to appraise and wholly dependent on others evaluation based on subjective accounts. One small negative detail gets you bad press and a PIP.