M icrosoft says that Phil Spencer, Microsoft Gaming CEO and the head of Xbox, isn’t retiring “anytime soon.” The company has responded to rumors of Spencer’s retirement, which have spread online today following Microsoft’s major layoffs.

After Microsoft laid off around 9,000 employees today, including a number from Spencer's gaming division, a rumor began circulating that the Xbox head will step down after the next generation Xbox console comes out, but Microsoft says it's not true.

After massive cuts across several Xbox studios, Microsoft denies rumors that Phil Spencer is retiring.