Microsoft announce massive layoffs, including Xbox. Multiple games are cancelled, and rumors claim Phil Spencer won't remain at the company.

These changes come at a time when we have more players, games, and gaming hours than ever before,” said Xbox head Phil Spencer in an email to staff.

Microsoft Corp.’s gaming division began informing employees of job cuts on Wednesday morning, initiating the process of widespread layoffs that staff have been expecting for the last week.Microsoft’s Stockholm-based King division,