I don't know if managers in Cisco hire sacrificial lambs, but I figured out tactics of the managers in my office (I'm in Europe) how to create a sacrificial lamb. I learned it on my own skin. Took me some time, but here it is.
If you were following this website for last several years, you might have learnt how LRs in Cisco work. Crucial elements are that your line manager is not asked who should be terminated; that it has nothing to do with your performance; people that get on the list for the chopping block are the ones that are not aligned with a project that is going to be kept, that is: the people that are aligned to the project that is of the least value, or is assigned to some team's internal tasks that have no visibility outside the team (e.g some technical debt cleaning etc...)
When those that decide about the list of those to be LRd look at the teams and who is assigned to valuable project and who's not, they pick those that seem to be redundant.
Favouritism in my office (or at least in part of my organization) is very strong. Many call it "old boys club". To protect their own people, managers pick "outsiders" - those hired by another manager, reorgd, or simply not liked for whatever reason - and they are kept out of any important projects. That is how managers in my org create sacrificial lambs. They don't know when or if the LR will hit their teams, but they have prepared "lamb" "on the shelf" for when it is needed. I noticed for my manager that he actually ranks people that way, so it is not just one guy and one project, but favourites are always assigned first to the best projects no matter if they are competent or not.
I'm the outsider. My current manager even doubled-down on putting me under the spotlight for this purpose last September, after an year of keeping me out of any meaningful project or work. I was lucky that axeman didn't come to our teams. So I survived. At the moment I even get to work on cool projects because we suddenly became understaffed. However, I know what his plans for me are, I have no illusions.
One additional bad part for being sacrificial lamb is that you are missing out on getting valuable experience that may help you find another job. You're doing stupid tasks and you will not have anything of value to present on any potential job interview.
That is why I'm not deluding myself about my future here, but I'm now trying to use this time with some meaningful work to collect experience for future interviews.