I generally agree- its a clear shot across the bow that the company no longer wants you there.
A funny story though from about 10 years ago (IE financial crisis): A sales person my wife worked with was put on a PIP. It had very clear revenue goals, modified his commission plan to be more performance based, but he could make more if he exceeded those goals, etc.
To everyone's astonishment, he started selling like crazy. There was only one problem- his boss forgot to "unfire" him with HR. Right after the PIP period expired, he gets a big deposit that isn't his commission check in his bank account- it was supposed to be a severance payment.
The guy immediately withdrew it from his bank account, and kept as little in there as possible so they couldn't get it back without confronting him, and later claimed he thought it was a commission and claimed to have spent it. They made him pay it back on a payment plan in the end, but only after forcing them to admit it was a severance and all that. He left as soon as he could find a better job.
A funny story though from about 10 years ago (IE financial crisis): A sales person my wife worked with was put on a PIP. It had very clear revenue goals, modified his commission plan to be more performance based, but he could make more if he exceeded those goals, etc.
To everyone's astonishment, he started selling like crazy. There was only one problem- his boss forgot to "unfire" him with HR. Right after the PIP period expired, he gets a big deposit that isn't his commission check in his bank account- it was supposed to be a severance payment.
The guy immediately withdrew it from his bank account, and kept as little in there as possible so they couldn't get it back without confronting him, and later claimed he thought it was a commission and claimed to have spent it. They made him pay it back on a payment plan in the end, but only after forcing them to admit it was a severance and all that. He left as soon as he could find a better job.