Citing “economic pressures, a changing business mix and a more streamlined organizational structure,” AT&T announced today the elimination of 12,000 jobs; or approximately 4% of their workers.

The layoffs start this month and continue throughout 2009. A 4th Quarter 2008 allocation of 600 million dollars will be used for severance packages.

Although AT&T did not identify the specific areas of the layoffs, they did mention that new jobs will be added in the wireless, video, and broadband sections of the company. Our best guess shows that most reductions will most likely occur within the landline areas of AT&T.

AT&T ends their announcement with the following:

Many nonmanagement employees affected by these reductions have a guaranteed job offer under union contracts. All employees will receive severance in accordance with management policies or union agreements.

For more information, read their press release.