It's all about achieving better results through continued cost-cutting - most notably through outsourcing and selling real estate we no longer need - instead of actually growing the business, which would lead to higher profits. That kind of strategy can only work to a certain point. What happens when there's nobody left to outsource and there's nothing else to sell? What happens when the company is stuck with an offshore workforce that might be cheap but is also average at best (and I'm being very generous there)?
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Time to move on. I don't know why people complain about companies that are going nowhere. I know people that have been waiting > 10 years for a cr---y redundancy package?
Cisco hasn't delivered anything innovative for a decade. That means its offerings aren't easily differentiated forcing sales to compete on price versus value.
That lowers margins which disappoints Wall Street forcing Chuck to do something.
Because it's tough to raise prices/margins without innovation, Cisco is forced to lower costs. This limits the amount of investment that can be made on innovation and signals to the internal innovators that it's time to find a new home.
Rinse and repeat.
Unfortunately, there have been several cycles over the last decade, and it will be difficult to stop the decline.
What do you expect with the company being led by a far leftist limousine liberal chuck robbins and toxic woke ELT? Not to mention downstream "leaders" like Eric Knipp destroying the engineering community with C2E.