This was called the TLM role at google. Technical Lead/Manager. You were expected to code and manage a couple of more junior engineers. It’s part of an effort to have dedicated managers and dedicated engineers instead of hybrid roles. This is being sold as an efficiency win for the sake of the stock price but it’s really just moved a few people around with the TLMs now 100% focused on programming.
TLM role has always sounded like a trap to me, I would never say yes to it personally. I’m sure it’s sold as an expected 50% code, 50% management but everyone I’ve talked to who has been near it says the expectation is more like 80% code 80% management.
It's just a way to ease unsuspecting engineers into management. If you don't suck at management, your team inevitably grows (or you're handed over other teams), and before long, you're managing full-time.
Which means that there are three type of people who remain TLMs in the long haul: those who suck at management; those managing dead-end projects on dead-end teams; or those who desperately cling on to the engineering past and actively refuse to take on more people. From a corporate point of view, none of these situations are great, hence the recent pushback against TLM roles in the industry.