Good on you for getting a high rating, it’s not easy to do. It will absolutely be a differentiator if you apply for a different role.
In most groups it’s simply not true that a below strong results in an automatic PIP and term. If you haven’t had prior performance management you’ll likely start at a lower step, it varies by group.
Don’t believe the hyperbole from employees that were pip’d out for performance. It makes these employees that couldn’t keep up with 85-90% of their peers and failed to improve when they were put on performance management feel better about themselves to come on here and tell each other that they’re not the problem.
Layoffs su-k and that’s too bad. From what I’ve observed they can be either in whole departments despite ratings, or a department reduction that is more likely to be rating based. No idea what the official process is.