I could see them cutting him, but I could see them keeping him. Like Fitch, Kos is an expensive fighter to have on the roster that is falling farther down the rankings. But he has a fan base and also a group that absolutely hates him and will pay to see him fight.
His record is 1-2 in his last two fights, however the win and one of losses were both controversial split decisions.
I don't want to have the previous discussion in here, but you have to distinguish MMA the sport and UFC the business. Based on record he should probably be let go, but based on what he has to offer the UFC he will likely stay for at least one more fight.