That's 7! One more and it will amount to 2 years of continual decline.
Switching and routing fell by 9%! Next quarter that figure will hit double digits!
Let's face the facts guys, Cisco is going through a slow and painful death. The only way profits are being maintained is through cutting costs. Regardless of whether they announced LR's on the call, they will have to make some in Q1 if they want to increase EPS for the market.
The management at its highest levels is full of Cisco lifers who joined the company when it was a few hundred million. They are not smart or experienced enough to run one of the biggest companies in the world and they need to go. They have clearly failed to turn the decline around in nearly 2 years and show no evidence they will. All they are good at is manipulating EPS through laying people off.
Expect a big exodus from investor after next quarter results, and a mid Q1 layoff announcement.