As someone laid off from a FAANG, it's not random. They don't lay-off the top performer. They don't lay off the woman who keeps winning peer bonuses, or the one who plays golf with the VP, or the one doing cross-team knowledge sharing sessions. They're not laying off the guy that got an out-of-band pay increase because they're so valuable to the company.

They may not use it as a PIP alternative, but it's not random. If you're an IC, you want your manager to be sharing documents with your name on it to the VP/Director. You want to be getting CC'ed in emergency product discussions. You want the senior leadership to know your name for a good thing. If your manager doesn't include you in meetings, and doesn't talk about your work, and doesn't make your presence known then your in trouble... when layoffs start and a director gets an excel spreadsheet with everyones name on, you want them to recognize your name. They're not axing the people they recognize first.