Rumours swirled after sweeping layoffs and game cancellations, but Microsoft says Phil Spencer isn’t stepping away.

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.

Microsoft Gaming CEO Phil Spencer has been in charge of Xbox for over a decade and the company says he’s not leaving anytime soon, calling rumors that the longtime exec might be resigning when the next generation of Xbox hardware launches “completely made up.”