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.

“Phil is not retiring anytime soon,” says Kari Perez, head of Xbox communications, in a statement to The Verge. The denial comes after Call of Duty leaker GhostOfHope claimed “Phil Spencer will be retiring from his role as CEO of Microsoft Gaming after the launch of the next generation Xbox” and that Xbox president Sarah Bond would be taking over as CEO of Microsoft Gaming.

While Microsoft’s comment doesn’t address the rumor fully, it makes it clear Spencer isn’t retiring imminently. Separately, Microsoft communications chief, Frank Shaw, took to X to claim that at least part of the rumor was made up.

Spencer originally assumed leadership of the Xbox division in 2014, a promotion from his role as the boss of Microsoft Studios. As the boss of Xbox, he’s overseen many big initiatives, including the launch of the Xbox Series X / S, a huge push into Xbox Game Pass, acquisitions of major companies like Activision Blizzard and ZeniMax Media, bringing more Xbox games to platforms like PlayStation and Nintendo Switch.

While Spencer isn’t retiring anytime soon, Microsoft is continuing its big cuts today that have affected Xbox studios and employees. Perfect Dark and Everwild have been cancelled, while Forza Motorsport developer Turn 10 Studios will be letting go of more than 70 staffers. Zenimax Online Studios also reportedly canceled a new MMORPG codenamed Blackbird that had been in the works since 2018.