Microsoft 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.

Spencer wrote to employees that Xbox's current success is 'based on tough decisions we've made previously.'

Xbox has responded to rumors claiming Phil Spencer is planning to retire following the launch of Microsoft's successor to the Xbox Series X, saying in no uncertain terms, "Phil is not retiring anytime soon.