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If you're placed on a performance improvement plan, it's important to start developing an exit strategy. Not all companies use such plans as a mere formality before termination, but many do, so be proactive. Assess the milestones set during the plan—if they're unrealistic, continue doing your job while actively job searching. There’s a possibility of being laid off, which could allow you to collect unemployment. Some employers may genuinely want to assist you in improving performance, so it's essential to evaluate their intent. Regardless, update your LinkedIn profile and resume to prepare for potential opportunities.