A lot of companies put everyone who screws up (in a big enough way) on a PIP so they can fire them at the drop of a hat if they screw up again. Not that you shouldn't also look for other jobs but it's very much a box checking exercise in that case. Just don't screw up for 30/60/90 days or whatever and you're fine. Often times your manager will re-arrange your job duties to help you out with this (assuming they want to retain you).