From what I gathered Cisco may actually skip an LR this cycle but an LR maybe happen last half of FY26 or early FY27.
ELT made a comment where instead of having a headcount for 4 employees why not have 2 employees and leverage AI for the other 2 employees. Jeetu also touched on topic where Cisco has to leverage AI more efficiently when it comes to writing code. Microsoft touts AI writes 70% of its code and Cisco is lucky to be at 30%.
That's pretty much it