It probably does, and I doubt the difference is anything to do with you. (Beyond not sticking your head above the KPI parapet, etc).

The last place I was laid off from was notorious for a LIFO/stack policy whenever heads needed to roll. The one before that looked purely at the highest earners. And the one before that did whatever the nice vulture capitalists told them to do... or else.

None of them looked at how much you made (or retained) for the company, customer and colleague satisfaction, impact on teams or projects. Just "thought leaders" looking at spreadsheets while telling everyone that they know what they're doing. And for the IC it's indistinguishable from Russian roulette.