And all of this is after more layoffs and shutdown 18 months ago which closed Arkane Austin, Alpha Dog Games and the developer of Xbox’s best game in a while, Hi-Fi Rush’s Tango Gameworks, which had to be saved by another company.

The Initiative, the Xbox studio developing a modern reimagining of Perfect Dark, is being shut down, and development of the game is ending. As first reported by Windows Central, the studio's closure is part of major cuts Microsoft is making across its business,

Microsoft's recent round of layoffs has seen the closure of The Initiative and the cancellation of the upcoming Perfect Dark.

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.

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

Microsoft has denied rumours of Xbox boss Phil Spencer’s retirement, although plenty wish it were true. Per the words of Microsoft Gaming CEO Phil Spencer himself, the Xbox brand has ‘never looked stronger,