Dear friend,
Three aspect emerge your second post. First one is personality of your manager, second is your past career and third one is manager's behaviour. Let me start from second.
Partially your troubles are because of you not being Team Leader in the past. In your first post you have written that you leapfrogged to managerial position. There is a difference between "doing the work" and "getting the work done". Since you did not have experience of latter, you could be facing problems at your work. Secondly, IT Manager is expected to handle two or more than two projects simultaneously. Are you facing problems because of lack of delegation of work?
Coming to the first aspect now. Your manager could be suffering due to Projection Bias. Projection bias means finding out one's own personality in others. This type of people, start being unfair to those who are dissimilar from them. As you say that your manager has very high take-off level then he could be expecting others also to be the same. These type of people become jittery when others do not imitate their personality.
The last aspect is Manager's behaviour. His preponderance has emanated from his high take-off level. Management could be turning blind eye even though he is rubbing his subordinates wrong way. Nevertheless, little does management understand that such persons vitiate the organisation's culture. However, it is not your problem and at this stage do not concentrate on the put-downs by your manager. Filter the message and ignore the barbs.
Solution to your challenge: - Plausibly, you have bitten more than what you could have chewed. Now you have to digest the swig. At this stage, you have joined the company already and there is no going back. Therefore, your first priority is come out of PIP. For this make a list of your deliverables. Show it to your manager. Let him make corrections. Secondly, make analysis of your strengths and weaknesses. Find out which is the No 1 weakness that is hampering your job. Third is to do strength and weakness analysis for your entire team. Find out who is good in what and who is weak in what. Lastly, convince manager that you have learning attitude and if given a chance, you can be a asset to your organisation. Trust me working persons under high take-off is always a pleasure. Today, you are going away from him because of his behaviour. If he had shown his levelheadedness, you would have gone gaga over him!
Well friend, you could be thinking why did I join this company. But then there are illusions in life. Sometimes we walk gullibly into the trap but realise much later. Now you have to wriggle out of this situation. For this whatever you do make sure that you come out honourably.
All the best!
Dinesh Divekar