Consumer goods giant Unilever is proposing to close a number of sites with the loss of up to 800 jobs, while investing £40 million in its biggest UK factory, the firm has announced.
The plans involve the closure of factories in Swansea and Slough and a distribution site in Bridgend.
The Unilever office in Ewloe also looks set to close and the work transferred.
The proposals however include plans to invest £40 million in Port Sunlight, its biggest UK factory, on the Wirral, Merseyside, with the creation of 150 new jobs.
The proposed changes, to take effect by the end of 2013, could lead to 500 direct job losses and around 300 contractor and third party jobs.
Some jobs will also be outsourced to Unilever's IT centre in Bangalore, India.
Unilever has cited 'tough economic conditions' as a factor in today's proposals.
In a statement, the company said it would 'always be necessary' to make changes in order to grow and compete in the current climate.
The Welsh Government has responded to the announcement to cut up to 450 jobs in Wales, saying it's 'very disappointing'.
Government officials say they have met Unilever executives to discuss the impact of the proposals and what help could be given, but the decision to close stands.
The Shadow Secretary of State for Wales Owen Smith MP has also spoken out over Unilever’s proposed job reductions in Wales.
ITV Wales Business Correspondent Carole Green has spent the day outside the Unilever factory in Swansea.