Up to 300 Cardiff call centre jobs are to go with the 118 118 directory inquiries service.
However, each worker will be given the opportunity to retrain and work within other call centres in Cardiff and Swansea run by The Number UK Limited.
The company runs a customer care business through its subsidiary Conduit in the two Welsh cities.
Workers who choose to take up the offer will be offered a four-week trial at their new potential place of work.
The Number UK Ltd said it hoped the new posts would be created next year and is carrying out a 90-day consultation period on its retraining proposals.
The vacancies will be created at its offices in Swansea and two Cardiff call centres, including the company's UK headquarters at Cardiff Gate Business Park.
'Retraining and redeployment'
The company, which is a subsidiary of independent directory assistance supplier kgb, said it had no intention of making any compulsory redundancies.
However, it said it will be offering it to people who do not want to take any of the options offered to them.
In a statement, the company said the plans will ensure the growth of its business across south Wales.
It added: "It is expected 118 118 calls will be migrated to the company's other existing call centres.
"The company is therefore commencing a 90-day consultation with employees about the proposals, with many expected to take up the company's offer of retraining and redeployment in the new customer care vacancies that are being created in Cardiff and Swansea."
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