It's possible that your or your team's productivity is actually bad, and in general at the company you are expected to do more, but the team you are on is a puddle of low productivity within the overall org. How would you know if this is the case? There are a few signs.

What degree of tenure do other people on the team have? If old-timers aren't on the team, or worse, if they leave the team for others within the company, they might be seeing writing on the wall that you can't. If this is the case, your future on this team, and likely with this company, might be in jeopardy when the reorganization comes.

Is the team just not important? Are you responsible for maintenance of some cost center that isn't worth high-level executives paying any attention to? If this is the case, your future might also be in jeopardy, but the reorganization might be multiple years away.

Are you just not listening to your manager? It's possible that you are going to be "blindsided" by a PIP due to the lack of output. This might happen if the actual output of your team isn't what you are thinking it is. Maybe the engineers who aren't outputting anything visible to you are actually outputting considerably to other parts of the organization. If this is the case, your future is in jeopardy and you'll find yourself out of the company within a year or so (yes, it actually does take a long time to fire people at FAANG companies).

It could be one of these or something else. Since you have so much extra time, it might behoove you to figure out exactly what the situation is on your team, so you can make the necessary preparations (to change teams, to get a new job before you're laid off or fired, to do whatever you think is best).