Porsha Williams -- I'm Not Fired, But My Ass Is On the Line

Porsha Williams has NOT been fired from "Real Housewives of Atlanta" ... but she may be on life support ... TMZ has learned.

Reports are swirling that Porsha is toast, but we're told she will absolutely stay on the show for the current season and she'll also be part of the reunion special.

But sources close to the production tell TMZ ... they're not THAT into her, because she's on the bubble for next season. Producers haven't decided whether they want to keep her or give her the ax.

Our sources say they'll wait till the reunion is taped before making their decision.