With our recent recession we have seen companies close their doors and more layoffs that one can imagine. It’s hard to believe that some of these companies are loosing their footing over this. AT&T has announced one of the largest layoffs we have seen yet.

AT&T is going to cut 4% of their entire staff to save money while switching their focus to the wireless portion of the business. That totals 21,000 jobs that will be lost. The recent drop in landline customers has forced AT&T to focus more on the growing mobile industry where they really do well.

Even with the great surge in iPhone subscribers last quarter, AT&T experienced a drop in the overall profit margin. This is largely believed to be due to the fact that they subsidizes the cost of the iPhone and in turn relies on the data fees to fill in any profit gaps.

[Via SlashGear]