The International Baccalaureate is studied in 128 countries
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About 300 jobs could be lost at the offices of an education body in south Wales.
The International Baccalaureate, (IB) which has its official headquarters in Switzerland, has its largest office in Cardiff.
BBC Wales' Dragon's Eye has learned that the organisation is considering a move away from the Welsh capital.
The IB confirmed discussions about the Cardiff office were under way but declined to comment further.
People employed there do everything from finance to formulating the curriculum and assessing work.
Dragon's Eye said the jobs could soon be lost to another country, most likely to be the Netherlands.
The IB offers three educational programmes for students aged three to 19 which aim to develop intellectual, personal, emotional and social skills.
There are more than 637,000 IB students at 2,363 schools in 128 countries.
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