John Bradshaw Layfield has stated many times he is done with wrestling. He is a shrewed businessman and knows that continuing to wrestle routinely would discourage the pretty good image he has made throughout the past decade. He'd barely enough in the tank to complete his final run as a wrestler, he has some back issues that irritate him and most importantly the man himself has stated so many times on Twitter that he has nothing left to accomplish. He could return down the line for the odd match here or there, but never full-time, it's not going to happen.
As a commentator, again he has said hes no interest. When he became a commentator on Smackdown he had years remaining on his contract and hence the switch in roles, from wrestler to announcer. WWE could have either paid him to sit at home on his rear or use him in some capacity, he had a good, opinionated character and that fit well onto the commentary table.
As an on-air personality, it has been discussed several times and last week when the intern released his diary of working with the WWE Creative Team, he was the original idea for the Anonymous RAW General Manager, but they scrapped it. I'd like to see him as an authority figure, I't'd make sense, he'd be welcomed back, due to his absence his character would be fresh, great talker on the microphone so he'd add charisma and It'd be interesting storyline wise who he'd feud with. But alas, Laurinaitis is a heat magnet at this point and chances of him leaving in the near future and slim to nothing.